154,166 Gabelli Equity Trust Inc. $GAB Shares Sold by Accel Wealth Management

Accel Wealth Management lessened its position in shares of Gabelli Equity Trust Inc. (NYSE:GAB) by 47.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 169,374 shares of the financial services provider’s stock after selling 154,166 shares during the period. Accel Wealth Management’s holdings in Gabelli Equity Trust were worth $888,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. bought a new stake in Gabelli Equity Trust during the first quarter valued at $33,000. Integrated Wealth Concepts LLC bought a new position in shares of Gabelli Equity Trust in the 2nd quarter worth about $36,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Gabelli Equity Trust in the 2nd quarter valued at about $44,000. Valeo Financial Advisors LLC acquired a new position in shares of Gabelli Equity Trust in the 3rd quarter valued at about $53,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Gabelli Equity Trust in the 2nd quarter valued at about $57,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

Gabelli Equity Trust Stock Up 0.7%

Shares of Gabelli Equity Trust stock traded up $0.04 on Tuesday, hitting $5.20. 838,652 shares of the company’s stock traded hands, compared to its average volume of 1,033,813. Gabelli Equity Trust Inc. has a one year low of $5.13 and a one year high of $6.37. The company has a fifty day moving average of $5.53 and a two-hundred day moving average of $5.57.

Gabelli Equity Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 11.5%. 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.