Kingsview Wealth Management LLC Boosts Stock Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Kingsview Wealth Management LLC lifted its position in The Gabelli Equity Trust Inc. (NYSE:GAB) by 48.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,360 shares of the financial services provider’s stock after purchasing an additional 12,817 shares during the quarter. Kingsview Wealth Management LLC’s holdings in The Gabelli Equity Trust were worth $212,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in shares of The Gabelli Equity Trust by 466.5% in the third quarter. International Assets Investment Management LLC now owns 2,301,030 shares of the financial services provider’s stock worth $12,633,000 after buying an additional 1,894,854 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in The Gabelli Equity Trust in the 4th quarter worth approximately $2,925,000. Shaker Financial Services LLC grew its stake in shares of The Gabelli Equity Trust by 413.3% during the 3rd quarter. Shaker Financial Services LLC now owns 652,653 shares of the financial services provider’s stock worth $3,583,000 after purchasing an additional 525,502 shares during the period. Consolidated Portfolio Review Corp acquired a new stake in shares of The Gabelli Equity Trust during the 3rd quarter worth approximately $648,000. Finally, Kera Capital Partners Inc. purchased a new position in shares of The Gabelli Equity Trust during the 4th quarter valued at approximately $569,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

The Gabelli Equity Trust Price Performance

Shares of NYSE GAB opened at $5.56 on Friday. The company’s fifty day moving average price is $5.50 and its 200 day moving average price is $5.49. The Gabelli Equity Trust Inc. has a 1 year low of $5.09 and a 1 year high of $5.85.

The Gabelli Equity Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 10.80%.

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.