Gabelli Equity Trust Inc. (NYSE:GAB) Stock Position Lifted by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in Gabelli Equity Trust by 13.5% during Q1, now owning 573,601 shares valued at approximately $3.16 million.
• Gabelli Equity Trust has declared a quarterly dividend of $0.15, reflecting an annualized dividend of $0.60 and a dividend yield of 10.2%.
• As of the recent trading session, Gabelli Equity Trust's stock opened at $5.87 and has seen a 1-year low of $4.50 and a high of $5.97.

Cetera Investment Advisers grew its position in shares of Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 13.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 573,601 shares of the financial services provider's stock after buying an additional 68,157 shares during the period. Cetera Investment Advisers owned about 0.19% of Gabelli Equity Trust worth $3,161,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Beacon Pointe Advisors LLC raised its stake in Gabelli Equity Trust by 7.1% during the 4th quarter. Beacon Pointe Advisors LLC now owns 30,000 shares of the financial services provider's stock valued at $161,000 after acquiring an additional 2,000 shares in the last quarter. PFG Investments LLC raised its stake in Gabelli Equity Trust by 3.5% during the 1st quarter. PFG Investments LLC now owns 86,549 shares of the financial services provider's stock valued at $477,000 after acquiring an additional 2,928 shares in the last quarter. Wedbush Securities Inc. raised its stake in Gabelli Equity Trust by 4.0% during the 1st quarter. Wedbush Securities Inc. now owns 121,478 shares of the financial services provider's stock valued at $669,000 after acquiring an additional 4,687 shares in the last quarter. Arete Wealth Advisors LLC raised its stake in Gabelli Equity Trust by 30.2% during the 4th quarter. Arete Wealth Advisors LLC now owns 20,280 shares of the financial services provider's stock valued at $109,000 after acquiring an additional 4,707 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Gabelli Equity Trust during the 4th quarter valued at $56,000. Institutional investors own 7.24% of the company's stock.

Gabelli Equity Trust Stock Down 0.3%

Shares of Gabelli Equity Trust stock opened at $5.87 on Wednesday. The business's fifty day moving average price is $5.82 and its two-hundred day moving average price is $5.61. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 13th were issued a $0.15 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 10.2%.

About Gabelli Equity Trust

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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