Susquehanna International Group LLP Reduces Position in Gabelli Equity Trust Inc. $GAB

Key Points

• Susquehanna International Group LLP cut its Gabelli Equity Trust stake by 93.2% in the second quarter, selling 680,332 shares and retaining 49,431 shares valued at approximately $280,000.
• GAB shares opened at $5.64, near the midpoint of their 52-week range of $5.28 to $6.37. Institutional investors collectively own 7.24% of the stock.
• Gabelli Equity Trust declared a quarterly dividend of $0.15 per share, equal to $0.60 annually and a 10.6% yield, payable September 23 to shareholders of record September 16.

Susquehanna International Group LLP decreased its holdings in Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 93.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,431 shares of the financial services provider's stock after selling 680,332 shares during the period. Susquehanna International Group LLP's holdings in Gabelli Equity Trust were worth $280,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GAB. Commonwealth Retirement Investments LLC purchased a new stake in shares of Gabelli Equity Trust in the fourth quarter valued at approximately $30,000. Geneos Wealth Management Inc. lifted its position in Gabelli Equity Trust by 200.0% during the second quarter. Geneos Wealth Management Inc. now owns 5,100 shares of the financial services provider's stock worth $30,000 after buying an additional 3,400 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in Gabelli Equity Trust during the first quarter worth $33,000. Larson Financial Group LLC acquired a new position in Gabelli Equity Trust during the third quarter worth $34,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in Gabelli Equity Trust in the 4th quarter valued at $42,000. 7.24% of the stock is owned by hedge funds and other institutional investors.

Gabelli Equity Trust Stock Down 0.5%

Shares of GAB opened at $5.64 on Wednesday. Gabelli Equity Trust Inc. has a 52-week low of $5.28 and a 52-week high of $6.37. The stock has a fifty day simple moving average of $5.67 and a two-hundred day simple moving average of $5.69.

Gabelli Equity Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.6%.

Gabelli Equity Trust Profile

Gabelli Equity Trust, Inc NYSE: GAB is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.

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