Gabelli Equity Trust Inc. $GAB Stock Holdings Lowered by Live Oak Private Wealth LLC

Key Points

• Live Oak Private Wealth reduced its Gabelli Equity Trust holdings by 38.2% in the second quarter, selling 393,131 shares and retaining 635,255 shares worth approximately $3.6 million.
• Institutional ownership of Gabelli Equity Trust stands at 7.24%, with several other investors modestly increasing their positions during recent quarters.
• GAB shares opened at $5.64, near their moving averages, while the company declared a quarterly dividend of $0.15 per share, representing an annualized yield of about 10.6%.

Live Oak Private Wealth LLC cut its holdings in shares of Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 38.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 635,255 shares of the financial services provider's stock after selling 393,131 shares during the period. Live Oak Private Wealth LLC owned approximately 0.20% of Gabelli Equity Trust worth $3,596,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hilltop Holdings Inc. grew its position in Gabelli Equity Trust by 9.6% in the third quarter. Hilltop Holdings Inc. now owns 19,756 shares of the financial services provider's stock worth $120,000 after buying an additional 1,724 shares during the last quarter. Baird Financial Group Inc. lifted its position in shares of Gabelli Equity Trust by 6.5% during the 2nd quarter. Baird Financial Group Inc. now owns 32,548 shares of the financial services provider's stock valued at $189,000 after acquiring an additional 2,000 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Gabelli Equity Trust by 2.6% during the 4th quarter. HighTower Advisors LLC now owns 83,820 shares of the financial services provider's stock worth $517,000 after acquiring an additional 2,127 shares in the last quarter. Scotia Capital Inc. boosted its stake in shares of Gabelli Equity Trust by 0.6% during the 3rd quarter. Scotia Capital Inc. now owns 462,353 shares of the financial services provider's stock worth $2,816,000 after acquiring an additional 2,782 shares in the last quarter. Finally, Silver Oak Securities Incorporated grew its holdings in shares of Gabelli Equity Trust by 16.5% in the 1st quarter. Silver Oak Securities Incorporated now owns 19,808 shares of the financial services provider's stock worth $111,000 after acquiring an additional 2,801 shares during the last quarter. 7.24% of the stock is currently owned by institutional investors.

Gabelli Equity Trust Stock Down 0.5%

Shares of Gabelli Equity Trust stock opened at $5.64 on Wednesday. The stock's fifty day moving average is $5.67 and its 200-day moving average is $5.69. Gabelli Equity Trust Inc. has a 12-month low of $5.28 and a 12-month high of $6.37.

Gabelli Equity Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.60 dividend on an annualized basis and a yield of 10.6%.

About Gabelli Equity Trust

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.

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