The Gabelli Equity Trust (NYSE:GAB) Sees Large Volume Increase – What’s Next?

Shares of The Gabelli Equity Trust Inc. (NYSE:GAB) saw strong trading volume on Friday . 734,599 shares traded hands during mid-day trading, an increase of 69% from the previous session’s volume of 434,830 shares.The stock last traded at $5.65 and had previously closed at $5.53.

The Gabelli Equity Trust Stock Up 2.3 %

The stock has a fifty day moving average of $5.55 and a 200 day moving average of $5.47.

The Gabelli Equity Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.60 annualized dividend and a dividend yield of 10.61%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GAB. International Assets Investment Management LLC increased its position in The Gabelli Equity Trust by 466.5% during the third quarter. International Assets Investment Management LLC now owns 2,301,030 shares of the financial services provider’s stock valued at $12,633,000 after acquiring an additional 1,894,854 shares during the last quarter. Shaker Financial Services LLC grew its holdings in The Gabelli Equity Trust by 413.3% during the 3rd quarter. Shaker Financial Services LLC now owns 652,653 shares of the financial services provider’s stock valued at $3,583,000 after purchasing an additional 525,502 shares during the last quarter. Cetera Investment Advisers raised its position in The Gabelli Equity Trust by 7.8% in the 2nd quarter. Cetera Investment Advisers now owns 484,285 shares of the financial services provider’s stock worth $2,518,000 after purchasing an additional 34,868 shares during the period. Accel Wealth Management lifted its stake in The Gabelli Equity Trust by 6.1% in the fourth quarter. Accel Wealth Management now owns 346,036 shares of the financial services provider’s stock worth $1,862,000 after purchasing an additional 19,990 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of The Gabelli Equity Trust by 6.1% during the third quarter. Advisors Asset Management Inc. now owns 212,791 shares of the financial services provider’s stock valued at $1,168,000 after buying an additional 12,220 shares during the period. Institutional investors own 7.24% of the company’s stock.

About The Gabelli Equity Trust

The Gabelli Equity Trust Inc is a closed ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in preferred stock, convertible or exchangeable securities, and warrants and rights.