The Gabelli Equity Trust Inc. (NYSE:GAB) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its holdings in The Gabelli Equity Trust Inc. (NYSE:GAB) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,490 shares of the financial services provider’s stock after selling 3,190 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in The Gabelli Equity Trust were worth $480,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Concourse Financial Group Securities Inc. grew its position in The Gabelli Equity Trust by 252.9% during the 2nd quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 4,300 shares during the period. Rothschild Investment LLC purchased a new position in The Gabelli Equity Trust during the second quarter valued at approximately $31,000. CNB Bank purchased a new position in The Gabelli Equity Trust during the third quarter valued at approximately $38,000. CreativeOne Wealth LLC acquired a new position in The Gabelli Equity Trust in the first quarter valued at approximately $56,000. Finally, Triton Wealth Management PLLC acquired a new stake in shares of The Gabelli Equity Trust during the 3rd quarter worth approximately $60,000. Hedge funds and other institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Up 0.4 %

NYSE:GAB opened at $5.58 on Friday. The company has a 50 day moving average price of $5.46 and a 200-day moving average price of $5.41. The Gabelli Equity Trust Inc. has a 1-year low of $4.71 and a 1-year high of $5.74.

The Gabelli Equity Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.60 dividend on an annualized basis and a yield of 10.75%.

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.