International Assets Investment Management LLC Has $171,000 Stock Position in Gabelli Equity Trust Inc. $GAB

International Assets Investment Management LLC trimmed its position in Gabelli Equity Trust Inc. (NYSE:GAB) by 93.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 27,739 shares of the financial services provider’s stock after selling 369,687 shares during the period. International Assets Investment Management LLC’s holdings in Gabelli Equity Trust were worth $171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. J.W. Cole Advisors Inc. boosted its holdings in Gabelli Equity Trust by 1.8% during the third quarter. J.W. Cole Advisors Inc. now owns 1,280,478 shares of the financial services provider’s stock worth $7,798,000 after buying an additional 22,200 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in Gabelli Equity Trust by 14.6% during the third quarter. Raymond James Financial Inc. now owns 635,163 shares of the financial services provider’s stock worth $3,868,000 after buying an additional 80,781 shares during the last quarter. Bank of America Corp DE boosted its holdings in Gabelli Equity Trust by 18.8% during the third quarter. Bank of America Corp DE now owns 631,227 shares of the financial services provider’s stock worth $3,844,000 after buying an additional 99,912 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Gabelli Equity Trust by 4.4% during the third quarter. Envestnet Asset Management Inc. now owns 477,114 shares of the financial services provider’s stock worth $2,906,000 after buying an additional 19,965 shares during the last quarter. Finally, Creative Planning boosted its holdings in Gabelli Equity Trust by 0.7% during the third quarter. Creative Planning now owns 464,171 shares of the financial services provider’s stock worth $2,827,000 after buying an additional 3,348 shares during the last quarter. Institutional investors own 7.24% of the company’s stock.

Gabelli Equity Trust Stock Performance

Shares of GAB opened at $5.57 on Thursday. Gabelli Equity Trust Inc. has a 1 year low of $5.28 and a 1 year high of $6.37. The stock’s 50-day moving average price is $5.63 and its two-hundred day moving average price is $5.95.

Gabelli Equity Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, June 15th. This represents a $0.60 dividend on an annualized basis and a yield of 10.8%.

Gabelli Equity Trust Company 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.