Great Valley Advisor Group Inc. Sells 10,056 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

Great Valley Advisor Group Inc. cut its holdings in The Gabelli Equity Trust Inc. (NYSE:GAB) by 17.6% during the 4th quarter, Holdings Channel reports. The fund owned 47,168 shares of the financial services provider’s stock after selling 10,056 shares during the period. Great Valley Advisor Group Inc.’s holdings in The Gabelli Equity Trust were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GAB. Golden State Equity Partners raised its holdings in The Gabelli Equity Trust by 2.0% in the 4th quarter. Golden State Equity Partners now owns 115,489 shares of the financial services provider’s stock worth $587,000 after purchasing an additional 2,219 shares during the period. Cerity Partners LLC raised its stake in shares of The Gabelli Equity Trust by 21.4% in the fourth quarter. Cerity Partners LLC now owns 14,979 shares of the financial services provider’s stock worth $76,000 after buying an additional 2,641 shares during the period. CoreCap Advisors LLC lifted its position in shares of The Gabelli Equity Trust by 26.9% during the 4th quarter. CoreCap Advisors LLC now owns 13,491 shares of the financial services provider’s stock valued at $69,000 after buying an additional 2,858 shares in the last quarter. Brookstone Capital Management lifted its position in shares of The Gabelli Equity Trust by 6.2% during the 4th quarter. Brookstone Capital Management now owns 56,284 shares of the financial services provider’s stock valued at $286,000 after buying an additional 3,302 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in shares of The Gabelli Equity Trust by 2.9% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 119,111 shares of the financial services provider’s stock valued at $611,000 after acquiring an additional 3,353 shares during the period. Hedge funds and other institutional investors own 7.24% of the company’s stock.

Insider Buying and Selling

In other The Gabelli Equity Trust news, insider Mario J. Gabelli purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were acquired at an average cost of $100.00 per share, with a total value of $1,000,000.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares in the company, valued at $1,000,000. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.86% of the stock is currently owned by insiders.

The Gabelli Equity Trust Stock Performance

NYSE GAB opened at $5.37 on Tuesday. The Gabelli Equity Trust Inc. has a 12 month low of $4.56 and a 12 month high of $5.88. The company’s 50 day moving average is $5.41 and its two-hundred day moving average is $5.19.

The Gabelli Equity Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 14th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.17%. The ex-dividend date of this dividend was Wednesday, March 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.