Marks Group Wealth Management Inc lessened its holdings in shares of The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 48.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 244,838 shares of the financial services provider's stock after selling 229,326 shares during the quarter. Marks Group Wealth Management Inc owned approximately 0.08% of The Gabelli Equity Trust worth $1,344,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Concourse Financial Group Securities Inc. increased its holdings in shares of The Gabelli Equity Trust by 252.9% in the second quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 4,300 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of The Gabelli Equity Trust in the 2nd quarter worth $31,000. CNB Bank purchased a new position in shares of The Gabelli Equity Trust during the 3rd quarter worth $38,000. CreativeOne Wealth LLC purchased a new position in shares of The Gabelli Equity Trust during the 1st quarter worth $56,000. Finally, Triton Wealth Management PLLC acquired a new position in shares of The Gabelli Equity Trust during the 3rd quarter valued at about $60,000. Institutional investors and hedge funds own 7.24% of the company's stock.
The Gabelli Equity Trust Price Performance
NYSE:GAB remained flat at $5.56 on Thursday. 727,791 shares of the company's stock traded hands, compared to its average volume of 575,896. The stock has a fifty day moving average price of $5.46 and a two-hundred day moving average price of $5.41. The Gabelli Equity Trust Inc. has a 12 month low of $4.71 and a 12 month high of $5.74.
The Gabelli Equity Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 10.80%. The ex-dividend date was Monday, September 16th.
The Gabelli Equity Trust Company Profile
(
Free Report)
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.
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