Bank of America Corp DE cut its stake in The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 14.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 591,245 shares of the financial services provider's stock after selling 100,010 shares during the period. Bank of America Corp DE owned approximately 0.20% of The Gabelli Equity Trust worth $3,181,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its position in shares of The Gabelli Equity Trust by 30.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 223,420 shares of the financial services provider's stock valued at $1,202,000 after purchasing an additional 52,800 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in The Gabelli Equity Trust during the fourth quarter valued at approximately $58,000. Golden State Wealth Management LLC bought a new stake in The Gabelli Equity Trust during the fourth quarter worth approximately $2,925,000. Kingswood Wealth Advisors LLC bought a new stake in shares of The Gabelli Equity Trust during the 4th quarter worth $327,000. Finally, Raymond James Financial Inc. acquired a new position in shares of The Gabelli Equity Trust in the 4th quarter worth $2,614,000. Institutional investors and hedge funds own 7.24% of the company's stock.
The Gabelli Equity Trust Stock Up 0.2%
Shares of The Gabelli Equity Trust stock traded up $0.01 on Wednesday, reaching $5.80. 279,415 shares of the company were exchanged, compared to its average volume of 582,858. The Gabelli Equity Trust Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $5.85. The stock has a fifty day moving average price of $5.49 and a 200-day moving average price of $5.53.
The Gabelli Equity Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 13th will be paid a $0.15 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 10.34%.
The 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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