Ameritas Advisory Services LLC Sells 14,858 Shares of Gabelli Equity Trust Inc. $GAB

Ameritas Advisory Services LLC trimmed its stake in Gabelli Equity Trust Inc. (NYSE:GAB) by 60.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,856 shares of the financial services provider’s stock after selling 14,858 shares during the period. Ameritas Advisory Services LLC’s holdings in Gabelli Equity Trust were worth $57,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its stake in shares of Gabelli Equity Trust by 93.5% in the first quarter. Janney Montgomery Scott LLC now owns 138,210 shares of the financial services provider’s stock worth $762,000 after buying an additional 66,772 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in Gabelli Equity Trust in the 1st quarter worth $74,000. PFG Investments LLC raised its holdings in Gabelli Equity Trust by 3.5% in the 1st quarter. PFG Investments LLC now owns 86,549 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 2,928 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Gabelli Equity Trust by 55.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 114,817 shares of the financial services provider’s stock worth $633,000 after acquiring an additional 40,947 shares during the period. Finally, Consolidated Portfolio Review Corp raised its holdings in Gabelli Equity Trust by 11.3% in the 1st quarter. Consolidated Portfolio Review Corp now owns 136,767 shares of the financial services provider’s stock worth $754,000 after acquiring an additional 13,928 shares during the period. Institutional investors own 7.24% of the company’s stock.

Gabelli Equity Trust Trading Down 2.2%

Shares of GAB opened at $5.87 on Monday. The company’s fifty day moving average price is $6.07 and its 200 day moving average price is $5.79. Gabelli Equity Trust Inc. has a one year low of $4.50 and a one year high of $6.32.

Gabelli Equity Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 16th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 10.2%. The ex-dividend date of this dividend was Tuesday, September 16th.

About 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.