Gabelli Equity Trust (NYSE:GAB) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Gabelli Equity Trust Inc. (NYSE:GAB) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.59 and traded as high as $5.65. Gabelli Equity Trust shares last traded at $5.6050, with a volume of 771,051 shares.

Gabelli Equity Trust Stock Performance

The company’s fifty day moving average price is $5.59 and its two-hundred day moving average price is $5.90.

Gabelli Equity Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.9%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Trading of Gabelli Equity Trust

Several hedge funds have recently modified their holdings of the stock. Core Wealth Advisors Inc. bought a new stake in shares of Gabelli Equity Trust during the first quarter valued at approximately $206,000. PNC Financial Services Group Inc. bought a new stake in shares of Gabelli Equity Trust during the first quarter valued at approximately $33,000. Kiley Juergens Wealth Management LLC bought a new stake in shares of Gabelli Equity Trust during the first quarter valued at approximately $73,000. Northstar Group Inc. bought a new stake in shares of Gabelli Equity Trust during the first quarter valued at approximately $115,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of Gabelli Equity Trust by 2.1% during the first quarter. Janney Montgomery Scott LLC now owns 159,155 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 3,255 shares during the last quarter. 7.24% of the stock is owned by institutional investors.

About Gabelli Equity Trust

Gabelli Equity Trust, Inc (NYSE: GAB) is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.