LPL Financial LLC lowered its holdings in Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,474,636 shares of the financial services provider's stock after selling 45,791 shares during the period. LPL Financial LLC owned approximately 1.13% of Gabelli Equity Trust worth $19,145,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in Gabelli Equity Trust by 93.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 138,210 shares of the financial services provider's stock worth $762,000 after acquiring an additional 66,772 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new stake in Gabelli Equity Trust in the fourth quarter valued at approximately $463,000. Golden State Wealth Management LLC raised its stake in shares of Gabelli Equity Trust by 90.8% during the first 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 period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Gabelli Equity Trust by 60.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 140,181 shares of the financial services provider's stock worth $754,000 after purchasing an additional 52,691 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of Gabelli Equity Trust by 3,654.1% in the first quarter. J.W. Cole Advisors Inc. now owns 720,307 shares of the financial services provider's stock valued at $3,969,000 after purchasing an additional 701,120 shares during the period. Institutional investors and hedge funds own 7.24% of the company's stock.
Gabelli Equity Trust Price Performance
GAB traded down $0.01 during trading hours on Friday, reaching $5.93. 121,228 shares of the stock traded hands, compared to its average volume of 529,516. Gabelli Equity Trust Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $5.97. The firm's fifty day simple moving average is $5.83 and its two-hundred day simple moving average is $5.62.
Gabelli Equity Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 13th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date of this dividend was Friday, June 13th.
Gabelli Equity Trust Company 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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