David J Yvars Group Reduces Stock Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

David J Yvars Group cut its position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 17.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,716 shares of the financial services provider’s stock after selling 3,107 shares during the quarter. David J Yvars Group’s holdings in The Gabelli Equity Trust were worth $81,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Pure Financial Advisors LLC acquired a new position in shares of The Gabelli Equity Trust during the third quarter valued at approximately $285,000. Pinnacle Associates Ltd. acquired a new position in The Gabelli Equity Trust in the 3rd quarter worth about $146,000. Consolidated Portfolio Review Corp bought a new position in shares of The Gabelli Equity Trust during the 3rd quarter valued at $648,000. PFG Investments LLC lifted its holdings in The Gabelli Equity Trust by 2.3% in the 3rd quarter. PFG Investments LLC now owns 83,651 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 1,869 shares during the last quarter. Finally, Silver Oak Securities Incorporated increased its stake in shares of The Gabelli Equity Trust by 64.9% in the third quarter. Silver Oak Securities Incorporated now owns 74,408 shares of the financial services provider’s stock worth $407,000 after purchasing an additional 29,284 shares during the period. 7.24% of the stock is owned by institutional investors.

The Gabelli Equity Trust Stock Performance

Shares of NYSE GAB opened at $5.55 on Thursday. The business has a fifty day simple moving average of $5.46 and a 200 day simple moving average of $5.41. The Gabelli Equity Trust Inc. has a one year low of $4.71 and a one year high of $5.74.

The Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.81%. The ex-dividend date was Monday, September 16th.

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.