Gabelli Equity Trust (NYSE:GAB) Reaches New 52-Week Low – Time to Sell?

Gabelli Equity Trust Inc. (NYSE:GAB) shares hit a new 52-week low during trading on Wednesday. The stock traded as low as $5.13 and last traded at $5.1350, with a volume of 223,544 shares traded. The stock had previously closed at $5.19.

Gabelli Equity Trust Stock Up 1.3%

The business has a fifty day simple moving average of $5.50 and a two-hundred day simple moving average of $5.57.

Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 11.5%. The ex-dividend date of this dividend was Wednesday, September 16th.

Institutional Trading of Gabelli Equity Trust

Hedge funds have recently bought and sold shares of the business. Rivernorth Capital Management LLC acquired a new position in shares of Gabelli Equity Trust during the 2nd quarter worth approximately $37,409,000. 1607 Capital Partners LLC acquired a new stake in shares of Gabelli Equity Trust in the second quarter valued at approximately $2,264,000. IMC Chicago LLC acquired a new stake in shares of Gabelli Equity Trust in the second quarter valued at approximately $1,038,000. Janney Montgomery Scott LLC lifted its position in 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 worth $891,000 after buying an additional 3,255 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new position in Gabelli Equity Trust during the second quarter worth approximately $487,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

About Gabelli Equity Trust

Gabelli Equity Trust Inc is a diversified closed-end investment company listed on the New York Stock Exchange under the symbol GAB. The fund seeks long-term growth of capital and income by investing primarily in a portfolio of equity securities, including common stocks of companies across a range of industries.

The trust is managed by Gabelli Funds, LLC, an investment adviser affiliated with GAMCO Investors, Inc Its investment approach is associated with fundamental, value-oriented research and may include investments in U.S.