Legacy Wealth Management LLC MS lessened its position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 75.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,551 shares of the financial services provider's stock after selling 56,425 shares during the period. Legacy Wealth Management LLC MS's holdings in The Gabelli Equity Trust were worth $102,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Kentucky Trust Co purchased a new stake in The Gabelli Equity Trust during the fourth quarter valued at about $40,000. Bank of Montreal Can purchased a new stake in shares of The Gabelli Equity Trust in the fourth quarter worth about $56,000. Strategic Financial Concepts LLC purchased a new stake in shares of The Gabelli Equity Trust in the fourth quarter worth about $58,000. Elequin Capital LP purchased a new stake in shares of The Gabelli Equity Trust in the fourth quarter worth about $69,000. Finally, MTM Investment Management LLC purchased a new stake in shares of The Gabelli Equity Trust in the fourth quarter worth about $73,000. Hedge funds and other institutional investors own 7.24% of the company's stock.
The Gabelli Equity Trust Price Performance
Shares of NYSE GAB traded down $0.01 on Friday, hitting $5.76. The company had a trading volume of 534,301 shares, compared to its average volume of 584,999. The Gabelli Equity Trust Inc. has a 12-month low of $4.50 and a 12-month high of $5.85. The business has a 50 day moving average of $5.48 and a two-hundred day moving average of $5.52.
The Gabelli Equity Trust Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 13th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 10.42%. The ex-dividend date is Friday, June 13th.
The Gabelli Equity Trust Profile
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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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