The Gabelli Equity Trust Inc. (NYSE:GAB) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC decreased its stake in The Gabelli Equity Trust Inc. (NYSE:GAB) by 6.6% during the 3rd quarter, Holdings Channel reports. The firm owned 165,006 shares of the financial services provider’s stock after selling 11,606 shares during the quarter. Private Advisor Group LLC’s holdings in The Gabelli Equity Trust were worth $906,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GAB. Concourse Financial Group Securities Inc. raised its stake in The Gabelli Equity Trust by 252.9% during the second quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 4,300 shares during the period. Rothschild Investment LLC purchased a new position in The Gabelli Equity Trust during the second quarter worth about $31,000. CNB Bank purchased a new position in The Gabelli Equity Trust during the third quarter worth about $38,000. CreativeOne Wealth LLC purchased a new position in The Gabelli Equity Trust during the first quarter worth about $56,000. Finally, Triton Wealth Management PLLC purchased a new position in The Gabelli Equity Trust during the third quarter worth about $60,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

The Gabelli Equity Trust Price Performance

The Gabelli Equity Trust stock opened at $5.37 on Friday. The company’s 50 day simple moving average is $5.47 and its 200-day simple moving average is $5.40. The Gabelli Equity Trust Inc. has a 1 year low of $4.71 and a 1 year high of $5.74.

The Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.18%. The ex-dividend date of this dividend was Monday, September 16th.

The Gabelli Equity Trust Profile

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.