Gabelli Equity Trust Inc. $GAB Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. trimmed its stake in Gabelli Equity Trust Inc. (NYSE:GAB – Free Report) by 15.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,082,702 shares of the financial services provider’s stock after selling 197,776 shares during the quarter. J.W. Cole Advisors Inc. owned approximately 0.35% of Gabelli Equity Trust worth $6,602,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Cibc World Market Inc. grew its holdings in shares of Gabelli Equity Trust by 7.8% in the 4th quarter. Cibc World Market Inc. now owns 88,838 shares of the financial services provider’s stock worth $548,000 after acquiring an additional 6,400 shares during the last quarter. Blue Barn Wealth LLC purchased a new position in shares of Gabelli Equity Trust during the fourth quarter valued at $150,000. Mach 1 Financial Group LLC purchased a new position in shares of Gabelli Equity Trust during the fourth quarter valued at $65,000. HighTower Advisors LLC grew its holdings in shares of Gabelli Equity Trust by 2.6% during the fourth quarter. HighTower Advisors LLC now owns 83,820 shares of the financial services provider’s stock valued at $517,000 after buying an additional 2,127 shares in the last quarter. Finally, Summit Wealth Group LLC Co. purchased a new position in shares of Gabelli Equity Trust during the fourth quarter valued at $70,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

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Gabelli Equity Trust Trading Down 1.5%

Shares of GAB stock opened at $5.52 on Friday. Gabelli Equity Trust Inc. has a 1-year low of $5.28 and a 1-year high of $6.37. The stock’s fifty day simple moving average is $5.59 and its 200-day simple moving average is $5.90.

Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, June 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.9%.

About Gabelli Equity Trust

(Free Report)

Gabelli Equity Trust, Inc (NYSE: GAB) is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.

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