Accel Wealth Management Has $1.83 Million Stake in Gabelli Equity Trust Inc. $GAB

Key Points

• Accel Wealth Management reduced its Gabelli Equity Trust stake by 52.6% in the second quarter, selling 358,882 shares and retaining 323,540 shares worth approximately $1.83 million.
• Other institutional investors made smaller purchases or increased their holdings, while institutional ownership of Gabelli Equity Trust stood at 7.24%.
• GAB opened at $5.75, near its 50-day average of $5.62 and 200-day average of $5.73; the stock’s 52-week range is $5.28 to $6.37.

Accel Wealth Management cut its stake in shares of Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 52.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 323,540 shares of the financial services provider's stock after selling 358,882 shares during the quarter. Accel Wealth Management owned approximately 0.10% of Gabelli Equity Trust worth $1,831,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Flagship Harbor Advisors LLC acquired a new stake in shares of Gabelli Equity Trust in the fourth quarter valued at about $30,000. Commonwealth Retirement Investments LLC bought a new position in shares of Gabelli Equity Trust during the fourth quarter worth about $30,000. Geneos Wealth Management Inc. lifted its stake in shares of Gabelli Equity Trust by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 5,100 shares of the financial services provider's stock worth $30,000 after acquiring an additional 3,400 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of Gabelli Equity Trust in the first quarter worth approximately $33,000. Finally, Larson Financial Group LLC bought a new stake in Gabelli Equity Trust in the third quarter valued at approximately $34,000. Institutional investors own 7.24% of the company's stock.

Gabelli Equity Trust Price Performance

NYSE:GAB opened at $5.75 on Wednesday. The company has a 50 day simple moving average of $5.62 and a two-hundred day simple moving average of $5.73. Gabelli Equity Trust Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $6.37.

Gabelli Equity Trust Company Profile

Gabelli Equity Trust, Inc NYSE: GAB is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.

Want to see what other hedge funds are holding GAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gabelli Equity Trust Inc. (NYSE:GAB - Free Report).

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