The Gabelli Equity Trust Inc. (NYSE:GAB) Shares Sold by Good Life Advisors LLC

Good Life Advisors LLC cut its stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 64.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,141 shares of the financial services provider’s stock after selling 36,693 shares during the quarter. Good Life Advisors LLC’s holdings in The Gabelli Equity Trust were worth $108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GAB. International Assets Investment Management LLC grew its position in shares of 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 worth $12,633,000 after buying an additional 1,894,854 shares in the last quarter. Silver Oak Securities Incorporated grew its position in shares of The Gabelli Equity Trust by 64.9% during the third quarter. Silver Oak Securities Incorporated now owns 74,408 shares of the financial services provider’s stock worth $407,000 after buying an additional 29,284 shares in the last quarter. PFG Investments LLC grew its position in shares of The Gabelli Equity Trust by 2.3% during the third quarter. PFG Investments LLC now owns 83,651 shares of the financial services provider’s stock worth $459,000 after buying an additional 1,869 shares in the last quarter. Consolidated Portfolio Review Corp acquired a new position in shares of The Gabelli Equity Trust during the third quarter worth about $648,000. Finally, Pinnacle Associates Ltd. acquired a new position in shares of The Gabelli Equity Trust during the third quarter worth about $146,000. 7.24% of the stock is owned by institutional investors and hedge funds.

The Gabelli Equity Trust Price Performance

Shares of The Gabelli Equity Trust stock opened at $5.56 on Friday. The Gabelli Equity Trust Inc. has a one year low of $5.09 and a one year high of $5.85. The business has a 50-day simple moving average of $5.49 and a 200-day simple moving average of $5.50.

The Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 10.80%. The ex-dividend date is Monday, March 17th.

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.