Cetera Investment Advisers Has $3.16 Million Stock Holdings in Gabelli Equity Trust Inc. (NYSE:GAB)

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 increased its stake in shares of Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 0.19% of Gabelli Equity Trust worth $3,161,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its stake in shares of Gabelli Equity Trust by 93.5% during the first quarter. Janney Montgomery Scott LLC now owns 138,210 shares of the financial services provider's stock valued at $762,000 after acquiring an additional 66,772 shares during the period. Leigh Baldwin & CO. LLC acquired a new position in Gabelli Equity Trust during the 4th quarter valued at about $463,000. Golden State Wealth Management LLC boosted its stake in shares of Gabelli Equity Trust by 90.8% in 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 purchasing an additional 493,510 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Gabelli Equity Trust by 60.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 140,181 shares of the financial services provider's stock worth $754,000 after buying an additional 52,691 shares during the period. Finally, J.W. Cole Advisors Inc. raised its stake in shares of Gabelli Equity Trust by 3,654.1% during the first quarter. J.W. Cole Advisors Inc. now owns 720,307 shares of the financial services provider's stock worth $3,969,000 after buying an additional 701,120 shares during the last quarter. Institutional investors own 7.24% of the company's stock.

Gabelli Equity Trust Price Performance

GAB stock traded down $0.03 during midday trading on Friday, reaching $5.91. The company's stock had a trading volume of 267,208 shares, compared to its average volume of 378,781. The business's 50-day simple moving average is $5.83 and its 200-day simple moving average is $5.62. Gabelli Equity Trust Inc. has a 52 week low of $4.50 and a 52 week high of $5.97.

Gabelli Equity Trust Dividend Announcement

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