Private Advisor Group LLC lowered its position in The Gabelli Equity Trust Inc. (NYSE:GAB – Free Report) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,140 shares of the financial services provider’s stock after selling 2,866 shares during the quarter. Private Advisor Group LLC’s holdings in The Gabelli Equity Trust were worth $872,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Shaker Financial Services LLC boosted its holdings in The Gabelli Equity Trust by 413.3% in the third quarter. Shaker Financial Services LLC now owns 652,653 shares of the financial services provider’s stock valued at $3,583,000 after acquiring an additional 525,502 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in The Gabelli Equity Trust by 77.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 155,379 shares of the financial services provider’s stock valued at $853,000 after acquiring an additional 67,889 shares during the last quarter. HighTower Advisors LLC boosted its holdings in The Gabelli Equity Trust by 13.3% in the third quarter. HighTower Advisors LLC now owns 84,531 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 9,914 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in The Gabelli Equity Trust in the fourth quarter valued at $58,000. Finally, Kera Capital Partners Inc. acquired a new position in shares of The Gabelli Equity Trust during the fourth quarter worth about $569,000. Institutional investors and hedge funds own 7.24% of the company’s stock.
The Gabelli Equity Trust Stock Performance
Shares of GAB opened at $5.57 on Friday. The stock’s 50-day moving average is $5.50 and its two-hundred day moving average is $5.51. The Gabelli Equity Trust Inc. has a 12 month low of $5.09 and a 12 month high of $5.85.
The Gabelli Equity Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.78%. The ex-dividend date of this dividend is Monday, March 17th.
The Gabelli Equity Trust Company Profile
(Free Report)
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.
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