Gabelli Equity Trust Inc. (NYSE:GAB) Shares Sold by Evernest Financial Advisors LLC

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.

Evernest Financial Advisors LLC lowered its holdings in Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 60.6% in the first quarter, according to its most recent Form 13F filing with the 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 and hedge funds have also recently bought and sold shares of GAB. J.W. Cole Advisors Inc. raised 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 worth $3,969,000 after purchasing an additional 701,120 shares during the period. Golden State Wealth Management LLC raised 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 worth $5,715,000 after purchasing an additional 493,510 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Gabelli Equity Trust during the 4th quarter worth approximately $2,614,000. Guggenheim Capital LLC raised its position 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 worth $901,000 after purchasing an additional 103,719 shares during the period. Finally, Leigh Baldwin & CO. LLC acquired a new stake in shares of Gabelli Equity Trust during the 4th quarter worth approximately $463,000. Hedge funds and other institutional investors own 7.24% of the company's stock.

Gabelli Equity Trust Stock Up 0.6%

Shares of Gabelli Equity Trust stock traded up $0.04 on Tuesday, reaching $5.93. 201,282 shares of the company were exchanged, compared to its average volume of 526,688. The company's 50-day moving average is $5.83 and its two-hundred day moving average is $5.62. Gabelli Equity Trust Inc. has a 1-year low of $4.50 and a 1-year high of $5.97.

Gabelli Equity Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 13th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 10.1%. The ex-dividend date was Friday, June 13th.

Gabelli Equity Trust Company Profile

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.