Leigh Baldwin & CO. LLC acquired a new stake in The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 86,084 shares of the financial services provider's stock, valued at approximately $463,000.
Other hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its position in The Gabelli Equity Trust by 30.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 223,420 shares of the financial services provider's stock valued at $1,202,000 after purchasing an additional 52,800 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in The Gabelli Equity Trust in the fourth quarter valued at $58,000. Golden State Wealth Management LLC purchased a new stake in shares of The Gabelli Equity Trust in the fourth quarter valued at about $2,925,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of The Gabelli Equity Trust in the fourth quarter valued at about $327,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of The Gabelli Equity Trust during the fourth quarter worth about $2,614,000. Hedge funds and other institutional investors own 7.24% of the company's stock.
The Gabelli Equity Trust Stock Performance
Shares of NYSE GAB traded down $0.06 during midday trading on Wednesday, reaching $5.74. 696,602 shares of the company were exchanged, compared to its average volume of 586,152. The Gabelli Equity Trust Inc. has a 1 year low of $4.50 and a 1 year high of $5.85. The stock has a fifty day simple moving average of $5.47 and a 200 day simple moving average of $5.52.
The Gabelli Equity Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 10.46%.
About The Gabelli Equity Trust
(
Free Report)
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.
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