David J Yvars Group Cuts Stock Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

David J Yvars Group lessened its stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 17.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,716 shares of the financial services provider’s stock after selling 3,107 shares during the period. David J Yvars Group’s holdings in The Gabelli Equity Trust were worth $81,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pure Financial Advisors LLC acquired a new stake in The Gabelli Equity Trust in the third quarter worth about $285,000. Pinnacle Associates Ltd. acquired a new stake in shares of The Gabelli Equity Trust in the 3rd quarter worth $146,000. Consolidated Portfolio Review Corp purchased a new stake in shares of The Gabelli Equity Trust during the 3rd quarter valued at approximately $648,000. PFG Investments LLC grew its position in The Gabelli Equity Trust by 2.3% in the third quarter. PFG Investments LLC now owns 83,651 shares of the financial services provider’s stock worth $459,000 after acquiring an additional 1,869 shares during the period. Finally, Silver Oak Securities Incorporated lifted its position in The Gabelli Equity Trust by 64.9% in the third quarter. Silver Oak Securities Incorporated now owns 74,408 shares of the financial services provider’s stock valued at $407,000 after buying an additional 29,284 shares during the last quarter. 7.24% of the stock is currently owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Price Performance

Shares of GAB opened at $5.55 on Thursday. The company’s 50-day simple moving average is $5.46 and its 200-day simple moving average is $5.41. The Gabelli Equity Trust Inc. has a 1 year low of $4.71 and a 1 year high of $5.74.

The Gabelli Equity Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.81%. The ex-dividend date was Monday, September 16th.

About The Gabelli Equity Trust

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.