Gabelli Equity Trust Inc. $GAB Shares Purchased by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC raised its position in shares of Gabelli Equity Trust Inc. (NYSE:GAB) by 4.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,836 shares of the financial services provider’s stock after buying an additional 3,000 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Gabelli Equity Trust were worth $377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Accel Wealth Management raised its stake in Gabelli Equity Trust by 1.2% during the second quarter. Accel Wealth Management now owns 364,694 shares of the financial services provider’s stock valued at $2,123,000 after buying an additional 4,185 shares in the last quarter. Cornell Pochily Investment Advisors Inc. acquired a new stake in shares of Gabelli Equity Trust during the 2nd quarter worth approximately $172,000. PFG Investments LLC raised its position in shares of Gabelli Equity Trust by 7.1% during the 2nd quarter. PFG Investments LLC now owns 92,692 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 6,143 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Gabelli Equity Trust by 6.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 147,684 shares of the financial services provider’s stock worth $860,000 after purchasing an additional 9,474 shares during the period. Finally, Register Financial Advisors LLC raised its position in shares of Gabelli Equity Trust by 81.1% during the 2nd quarter. Register Financial Advisors LLC now owns 22,637 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 10,135 shares during the period. Institutional investors and hedge funds own 7.24% of the company’s stock.

Gabelli Equity Trust Trading Down 2.2%

Shares of Gabelli Equity Trust stock opened at $5.87 on Friday. The business’s 50 day simple moving average is $6.07 and its 200-day simple moving average is $5.79. Gabelli Equity Trust Inc. has a twelve month low of $4.50 and a twelve month high of $6.32.

Gabelli Equity Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 16th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date was Tuesday, September 16th.

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.