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

HighTower Advisors LLC reduced its stake in The Gabelli Equity Trust Inc. (NYSE:GAB) by 16.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 70,482 shares of the financial services provider’s stock after selling 14,049 shares during the quarter. HighTower Advisors LLC’s holdings in The Gabelli Equity Trust were worth $379,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new position in The Gabelli Equity Trust during the fourth quarter worth $2,925,000. Raymond James Financial Inc. purchased a new stake in shares of The Gabelli Equity Trust in the 4th quarter valued at $2,614,000. Independent Advisor Alliance acquired a new position in The Gabelli Equity Trust during the 4th quarter worth about $1,978,000. Kera Capital Partners Inc. purchased a new position in The Gabelli Equity Trust during the 4th quarter valued at about $569,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in The Gabelli Equity Trust by 77.6% in the 4th 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 in the last quarter. 7.24% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Equity Trust Trading Down 0.1 %

Shares of NYSE:GAB opened at $5.50 on Tuesday. The Gabelli Equity Trust Inc. has a 1 year low of $5.09 and a 1 year high of $5.85. The firm’s 50-day moving average is $5.54 and its two-hundred day moving average is $5.52.

The Gabelli Equity Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 10.92%. The ex-dividend date was Monday, March 17th.

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.