Gabelli Equity Trust Inc. $GAB Shares Sold by Shaker Financial Services LLC

Shaker Financial Services LLC lowered its stake in shares of Gabelli Equity Trust Inc. (NYSE:GAB) by 26.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,518,357 shares of the financial services provider’s stock after selling 554,812 shares during the quarter. Gabelli Equity Trust comprises 2.6% of Shaker Financial Services LLC’s portfolio, making the stock its 4th largest position. Shaker Financial Services LLC’s holdings in Gabelli Equity Trust were worth $7,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Avidian Wealth Enterprises LLC grew its holdings in shares of Gabelli Equity Trust by 39.6% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 35,603 shares of the financial services provider’s stock worth $187,000 after acquiring an additional 10,104 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of Gabelli Equity Trust in the 3rd quarter worth approximately $53,000. Integrated Wealth Concepts LLC purchased a new position in shares of Gabelli Equity Trust in the 2nd quarter valued at approximately $36,000. Baird Financial Group Inc. purchased a new position in shares of Gabelli Equity Trust in the 2nd quarter valued at approximately $94,000. Finally, 1607 Capital Partners LLC bought a new stake in shares of Gabelli Equity Trust during the second quarter valued at approximately $2,264,000. 7.24% of the stock is owned by institutional investors.

Gabelli Equity Trust Price Performance

GAB stock traded down $0.07 during midday trading on Wednesday, hitting $5.12. The stock had a trading volume of 479,132 shares, compared to its average volume of 1,030,827. The business has a 50-day moving average of $5.52 and a two-hundred day moving average of $5.57. Gabelli Equity Trust Inc. has a 52-week low of $5.12 and a 52-week high of $6.37.

Gabelli Equity Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date was Wednesday, September 16th.

Gabelli Equity Trust Profile

Gabelli Equity Trust Inc is a diversified closed-end investment company listed on the New York Stock Exchange under the symbol GAB. The fund seeks long-term growth of capital and income by investing primarily in a portfolio of equity securities, including common stocks of companies across a range of industries.

The trust is managed by Gabelli Funds, LLC, an investment adviser affiliated with GAMCO Investors, Inc Its investment approach is associated with fundamental, value-oriented research and may include investments in U.S.