Evernest Financial Advisors LLC Cuts Stock Holdings in Gabelli Equity Trust Inc. $GAB

Evernest Financial Advisors LLC trimmed its position in shares of Gabelli Equity Trust Inc. (NYSE:GAB) by 45.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,855 shares of the financial services provider’s stock after selling 16,855 shares during the quarter. Evernest Financial Advisors LLC’s holdings in Gabelli Equity Trust were worth $116,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GAB. PFG Investments LLC grew its position in shares of Gabelli Equity Trust by 3.5% in the first quarter. PFG Investments LLC now owns 86,549 shares of the financial services provider’s stock valued at $477,000 after purchasing an additional 2,928 shares during the period. Kingswood Wealth Advisors LLC grew its position in shares of Gabelli Equity Trust by 4.9% in the second quarter. Kingswood Wealth Advisors LLC now owns 64,836 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 3,000 shares during the period. Valley Brook Capital Group Inc. grew its position in shares of Gabelli Equity Trust by 2.7% in the second quarter. Valley Brook Capital Group Inc. now owns 115,836 shares of the financial services provider’s stock valued at $674,000 after purchasing an additional 3,000 shares during the period. Accel Wealth Management grew its position in shares of Gabelli Equity Trust by 1.2% in the second quarter. Accel Wealth Management now owns 364,694 shares of the financial services provider’s stock valued at $2,123,000 after purchasing an additional 4,185 shares during the period. Finally, Wedbush Securities Inc. grew its position in shares of Gabelli Equity Trust by 4.0% in the first quarter. Wedbush Securities Inc. now owns 121,478 shares of the financial services provider’s stock valued at $669,000 after purchasing an additional 4,687 shares during the period. Hedge funds and other institutional investors own 7.24% of the company’s stock.

Gabelli Equity Trust Trading Down 1.3%

Shares of NYSE GAB opened at $5.92 on Friday. The company’s 50-day simple moving average is $6.07 and its 200-day simple moving average is $5.80. Gabelli Equity Trust Inc. has a 52-week low of $4.50 and a 52-week high of $6.32.

Gabelli Equity Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.1%.

Gabelli Equity Trust 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.