RFG Bristol Wealth Advisors LLC Purchases New Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

RFG Bristol Wealth Advisors LLC acquired a new position in The Gabelli Equity Trust Inc. (NYSE:GAB) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 27,604 shares of the financial services provider’s stock, valued at approximately $149,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GAB. LPL Financial LLC increased its stake in shares of The Gabelli Equity Trust by 28.3% during the 4th quarter. LPL Financial LLC now owns 3,520,427 shares of the financial services provider’s stock worth $18,940,000 after purchasing an additional 776,591 shares during the last quarter. HUB Investment Partners LLC increased its position in The Gabelli Equity Trust by 230.2% during the fourth quarter. HUB Investment Partners LLC now owns 50,203 shares of the financial services provider’s stock worth $270,000 after buying an additional 35,000 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in The Gabelli Equity Trust by 7.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 174,692 shares of the financial services provider’s stock valued at $940,000 after buying an additional 11,472 shares in the last quarter. GWN Securities Inc. acquired a new stake in shares of The Gabelli Equity Trust in the fourth quarter worth about $128,000. Finally, Commonwealth Equity Services LLC boosted its stake in shares of The Gabelli Equity Trust by 0.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 1,903,700 shares of the financial services provider’s stock worth $10,242,000 after acquiring an additional 12,503 shares in the last quarter. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Price Performance

Shares of GAB stock opened at $5.50 on Thursday. The stock’s 50 day simple moving average is $5.54 and its 200 day simple moving average is $5.52. The Gabelli Equity Trust Inc. has a twelve month low of $5.09 and a twelve month high of $5.85.

The Gabelli Equity Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.91%. The ex-dividend date was Monday, March 17th.

The Gabelli Equity Trust Company 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.