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

RDA Financial Network cut its position in The Gabelli Equity Trust Inc. (NYSE:GAB) by 29.7% in the 4th quarter, according to its most recent 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 quarter. RDA Financial Network’s holdings in The Gabelli Equity Trust were worth $115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in shares of The Gabelli Equity Trust by 466.5% in the third quarter. International Assets Investment Management LLC now owns 2,301,030 shares of the financial services provider’s stock valued at $12,633,000 after acquiring an additional 1,894,854 shares during the period. Shaker Financial Services LLC boosted its holdings in The Gabelli Equity Trust by 413.3% in the 3rd quarter. Shaker Financial Services LLC now owns 652,653 shares of the financial services provider’s stock valued at $3,583,000 after purchasing an additional 525,502 shares during the period. Cetera Investment Advisers grew its position in shares of The Gabelli Equity Trust by 7.8% during the 2nd quarter. Cetera Investment Advisers now owns 484,285 shares of the financial services provider’s stock worth $2,518,000 after purchasing an additional 34,868 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of The Gabelli Equity Trust by 6.1% during the third quarter. Advisors Asset Management Inc. now owns 212,791 shares of the financial services provider’s stock worth $1,168,000 after purchasing an additional 12,220 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of The Gabelli Equity Trust by 3.0% in the third quarter. Thrivent Financial for Lutherans now owns 163,220 shares of the financial services provider’s stock valued at $896,000 after buying an additional 4,703 shares in the last quarter. 7.24% of the stock is owned by institutional investors and hedge funds.

The Gabelli Equity Trust Trading Up 0.8 %

Shares of GAB stock opened at $5.49 on Friday. The stock has a 50 day simple moving average of $5.55 and a 200 day simple moving average of $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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend 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.