Golden State Wealth Management LLC Sells 25,119 Shares of Gabelli Equity Trust Inc. (NYSE:GAB)

Golden State Wealth Management LLC cut its holdings in Gabelli Equity Trust Inc. (NYSE:GAB) by 4.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 518,642 shares of the financial services provider’s stock after selling 25,119 shares during the quarter. Golden State Wealth Management LLC owned 0.17% of Gabelli Equity Trust worth $2,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of Montreal Can bought a new position in shares of Gabelli Equity Trust during the 4th quarter valued at $56,000. Elequin Capital LP bought a new position in Gabelli Equity Trust in the 4th quarter worth $69,000. Sagespring Wealth Partners LLC bought a new position in Gabelli Equity Trust in the 1st quarter worth $74,000. Cornerstone Advisory LLC bought a new position in Gabelli Equity Trust in the 4th quarter worth $97,000. Finally, Chancellor Financial Group WB LP bought a new position in Gabelli Equity Trust in the 4th quarter worth $99,000. 7.24% of the stock is owned by institutional investors.

Gabelli Equity Trust Stock Up 0.5%

Shares of Gabelli Equity Trust stock opened at $5.93 on Friday. Gabelli Equity Trust Inc. has a one year low of $4.50 and a one year high of $5.94. The stock’s fifty day moving average is $5.71 and its 200 day moving average is $5.54.

Gabelli Equity Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 13th were issued a $0.15 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 10.12%.

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.