Kingswood Wealth Advisors LLC Makes New $327,000 Investment in The Gabelli Equity Trust Inc. (NYSE:GAB)

Kingswood Wealth Advisors LLC acquired a new position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 60,822 shares of the financial services provider’s stock, valued at approximately $327,000.

A number of other hedge funds have also modified their holdings of GAB. CNB Bank acquired a new position in shares of The Gabelli Equity Trust in the 3rd quarter valued at $38,000. Triton Wealth Management PLLC purchased a new stake in The Gabelli Equity Trust during the third quarter valued at about $60,000. Meridian Wealth Management LLC purchased a new stake in The Gabelli Equity Trust during the third quarter valued at about $75,000. Executive Wealth Management LLC purchased a new position in shares of The Gabelli Equity Trust in the third quarter worth approximately $82,000. Finally, Arete Wealth Advisors LLC acquired a new stake in shares of The Gabelli Equity Trust during the third quarter valued at approximately $85,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Equity Trust Stock Down 0.7 %

The Gabelli Equity Trust stock opened at $5.54 on Friday. The company has a 50 day moving average price of $5.55 and a 200 day moving average price of $5.48. The Gabelli Equity Trust Inc. has a 52 week low of $5.09 and a 52 week high of $5.85.

The Gabelli Equity Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.83%.

The Gabelli Equity Trust Company 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.