Stratos Wealth Partners LTD. Sells 59,391 Shares of Gabelli Equity Trust Inc. (NYSE:GAB)

Stratos Wealth Partners LTD. reduced its position in shares of Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 38.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,620 shares of the financial services provider's stock after selling 59,391 shares during the period. Stratos Wealth Partners LTD.'s holdings in Gabelli Equity Trust were worth $532,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Bank of Montreal Can acquired a new position in Gabelli Equity Trust during the fourth quarter valued at approximately $56,000. Novem Group acquired a new position in Gabelli Equity Trust during the first quarter valued at approximately $58,000. Elequin Capital LP acquired a new position in Gabelli Equity Trust during the fourth quarter valued at approximately $69,000. Sagespring Wealth Partners LLC acquired a new position in Gabelli Equity Trust during the first quarter valued at approximately $74,000. Finally, Cornerstone Advisory LLC acquired a new position in Gabelli Equity Trust during the fourth quarter valued at approximately $97,000. 7.24% of the stock is owned by institutional investors and hedge funds.

Gabelli Equity Trust Stock Performance

NYSE GAB traded up $0.05 during trading hours on Thursday, hitting $5.90. 246,987 shares of the company traded hands, compared to its average volume of 567,099. The business's 50-day moving average is $5.78 and its 200-day moving average is $5.57. Gabelli Equity Trust Inc. has a twelve month low of $4.50 and a twelve month high of $5.95.

Gabelli Equity Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 13th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 10.18%.

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.