RDA Financial Network Sells 9,025 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

RDA Financial Network lessened its position in The Gabelli Equity Trust Inc. (NYSE:GAB) by 29.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,318 shares of the financial services provider’s stock after selling 9,025 shares during the period. RDA Financial Network’s holdings in The Gabelli Equity Trust were worth $115,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in The Gabelli Equity Trust by 77.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 155,379 shares of the financial services provider’s stock valued at $853,000 after purchasing an additional 67,889 shares during the last quarter. Legacy Wealth Management LLC MS raised its stake in The Gabelli Equity Trust by 53.2% in the fourth quarter. Legacy Wealth Management LLC MS now owns 74,976 shares of the financial services provider’s stock valued at $403,000 after buying an additional 26,032 shares during the period. Arete Wealth Advisors LLC acquired a new stake in shares of The Gabelli Equity Trust in the third quarter valued at approximately $85,000. Executive Wealth Management LLC bought a new position in shares of The Gabelli Equity Trust during the 3rd quarter worth approximately $82,000. Finally, LRI Investments LLC acquired a new position in shares of The Gabelli Equity Trust during the 3rd quarter worth approximately $90,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Equity Trust Stock Performance

GAB opened at $5.49 on Friday. The stock’s fifty day simple moving average is $5.55 and its 200 day simple moving average is $5.46. The Gabelli Equity Trust Inc. has a 1-year low of $5.03 and a 1-year high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.94%. The ex-dividend date of this dividend was Friday, December 13th.

The 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.