Shares of Gabelli Equity Trust Inc. (The) (NYSE:GAB) traded today at $7.14, eclipsing its 52-week high. So far today approximately 161,000 shares have been exchanged, as compared to an average 30-day volume of 527,000 shares.
Gabelli Equity Trust Inc. (The) (NYSE:GAB) defies analysts with a current price ($7.13) 1.3% above its average consensus price target of $7.04.
Over the past year, Gabelli Equity Trust Inc. (The) has traded in a range of $4.05 to $7.14 and is now at $7.13, 76% above that low.
To achieve long-term growth of capital primarily through investment in equity securities, with income being a secondary objective. The Fund will invest at least 80% of its assets in equity securities. The Fund may invest, from time to time, in shares of other investment companies. It may purchase or write call or put options on securities or indices. It may invest up to 10% of its net assets in securities, for which the markets are illiquid. The Fund invests in various industries, including food and beverage, financial services, energy and utilities, telecommunications, healthcare, diversified industrial, consumer products, publishing, entertainment, cable and satellite, hotels and gaming, and equipment and supplies.
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