Brookstone Capital Management Sells 2,431 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

Brookstone Capital Management reduced its stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,853 shares of the financial services provider’s stock after selling 2,431 shares during the period. Brookstone Capital Management’s holdings in The Gabelli Equity Trust were worth $297,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in The Gabelli Equity Trust by 900.1% during the first quarter. International Assets Investment Management LLC now owns 117,776 shares of the financial services provider’s stock valued at $640,000 after buying an additional 106,000 shares in the last quarter. Cullen Investment Group LTD. bought a new position in The Gabelli Equity Trust during the first quarter valued at about $86,000. Nomura Holdings Inc. bought a new position in The Gabelli Equity Trust during the fourth quarter valued at about $142,000. B. Riley Wealth Advisors Inc. increased its stake in shares of The Gabelli Equity Trust by 26.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 64,907 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 13,387 shares during the period. Finally, ICA Group Wealth Management LLC bought a new position in shares of The Gabelli Equity Trust in the fourth quarter worth about $32,000. 7.24% of the stock is currently owned by institutional investors.

The Gabelli Equity Trust Trading Up 0.6 %

The Gabelli Equity Trust stock opened at $5.25 on Wednesday. The business’s 50-day simple moving average is $5.40 and its 200-day simple moving average is $5.32. The Gabelli Equity Trust Inc. has a 52 week low of $4.56 and a 52 week high of $5.88.

The Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.43%.

Insider Transactions at The Gabelli Equity Trust

In other The Gabelli Equity Trust news, insider Mario J. Gabelli acquired 11,750 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were acquired at an average cost of $100.00 per share, for a total transaction of $1,175,000.00. Following the completion of the purchase, the insider now owns 16,750 shares of the company’s stock, valued at approximately $1,675,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.86% of the stock is currently owned by corporate insiders.

The Gabelli Equity Trust 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.