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Evernest Financial Advisors LLC Sells 56,351 Shares of Gabelli Equity Trust Inc. (NYSE:GAB)

Gabelli Equity Trust logo with Finance background

Key Points

  • Evernest Financial Advisors LLC has reduced its stake in Gabelli Equity Trust by 60.6%, now holding 36,710 shares worth approximately $202,000 after selling 56,351 shares in the first quarter.
  • Gabelli Equity Trust announced a quarterly dividend of $0.15 per share, which results in an annualized dividend yield of 10.1%.
  • Shares of Gabelli Equity Trust opened at $5.92, with a one-year price range between $4.50 and $5.97, indicating a relatively stable price performance.
  • Want stock alerts on Gabelli Equity Trust? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Evernest Financial Advisors LLC lessened its position in shares of Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 60.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,710 shares of the financial services provider's stock after selling 56,351 shares during the period. Evernest Financial Advisors LLC's holdings in Gabelli Equity Trust were worth $202,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GAB. J.W. Cole Advisors Inc. lifted its position in shares of Gabelli Equity Trust by 3,654.1% during the 1st quarter. J.W. Cole Advisors Inc. now owns 720,307 shares of the financial services provider's stock valued at $3,969,000 after buying an additional 701,120 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Gabelli Equity Trust by 90.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,037,271 shares of the financial services provider's stock valued at $5,715,000 after buying an additional 493,510 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Gabelli Equity Trust during the 4th quarter valued at $2,614,000. Guggenheim Capital LLC raised its stake in shares of Gabelli Equity Trust by 162.6% during the 4th quarter. Guggenheim Capital LLC now owns 167,494 shares of the financial services provider's stock valued at $901,000 after purchasing an additional 103,719 shares during the period. Finally, Leigh Baldwin & CO. LLC bought a new stake in shares of Gabelli Equity Trust during the 4th quarter valued at $463,000. Hedge funds and other institutional investors own 7.24% of the company's stock.

Gabelli Equity Trust Stock Performance

Shares of NYSE:GAB traded down $0.03 during midday trading on Friday, reaching $5.91. 267,208 shares of the company traded hands, compared to its average volume of 378,781. Gabelli Equity Trust Inc. has a 12 month low of $4.50 and a 12 month high of $5.97. The firm's fifty day moving average price is $5.83 and its two-hundred day moving average price is $5.62.

Gabelli Equity Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 13th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date was Friday, June 13th.

Gabelli Equity Trust Company Profile

(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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Institutional Ownership by Quarter for Gabelli Equity Trust (NYSE:GAB)

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