Mercer Global Advisors Inc. ADV Reduces Stock Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Mercer Global Advisors Inc. ADV trimmed its position in The Gabelli Equity Trust Inc. (NYSE:GAB) by 26.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,980 shares of the financial services provider’s stock after selling 10,919 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in The Gabelli Equity Trust were worth $161,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its holdings in The Gabelli Equity Trust by 22.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 2,573,366 shares of the financial services provider’s stock valued at $14,205,000 after acquiring an additional 470,699 shares during the last quarter. Cetera Investment Advisers increased its stake in The Gabelli Equity Trust by 1,196.4% in the first quarter. Cetera Investment Advisers now owns 449,417 shares of the financial services provider’s stock valued at $2,481,000 after purchasing an additional 414,751 shares during the last quarter. International Assets Investment Management LLC lifted its position in The Gabelli Equity Trust by 244.9% during the second quarter. International Assets Investment Management LLC now owns 406,176 shares of the financial services provider’s stock worth $2,112,000 after buying an additional 288,400 shares during the period. Advisors Asset Management Inc. acquired a new stake in The Gabelli Equity Trust in the 1st quarter worth about $716,000. Finally, Choreo LLC purchased a new stake in The Gabelli Equity Trust in the 2nd quarter valued at about $481,000. 7.24% of the stock is currently owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Trading Down 0.5 %

Shares of GAB opened at $5.46 on Wednesday. The Gabelli Equity Trust Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $5.74. The company’s fifty day moving average is $5.42 and its two-hundred day moving average is $5.40.

The Gabelli Equity Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.99%. The ex-dividend date of this dividend was Monday, September 16th.

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.