International Assets Investment Management LLC Sells 369,687 Shares of Gabelli Equity Trust Inc. $GAB

International Assets Investment Management LLC cut its stake in shares of Gabelli Equity Trust Inc. (NYSE:GAB) by 93.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,739 shares of the financial services provider’s stock after selling 369,687 shares during the quarter. International Assets Investment Management LLC’s holdings in Gabelli Equity Trust were worth $171,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GAB. Huntington National Bank acquired a new stake in shares of Gabelli Equity Trust in the third quarter valued at $30,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Gabelli Equity Trust in the fourth quarter valued at $30,000. Geneos Wealth Management Inc. increased its stake in shares of Gabelli Equity Trust by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 5,100 shares of the financial services provider’s stock valued at $30,000 after buying an additional 3,400 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of Gabelli Equity Trust in the third quarter valued at $34,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Gabelli Equity Trust by 86.7% in the third quarter. JPMorgan Chase & Co. now owns 8,400 shares of the financial services provider’s stock valued at $51,000 after buying an additional 3,900 shares in the last quarter. 7.24% of the stock is currently owned by institutional investors and hedge funds.

Gabelli Equity Trust Stock Performance

Shares of NYSE:GAB opened at $5.57 on Thursday. Gabelli Equity Trust Inc. has a twelve month low of $5.28 and a twelve month high of $6.37. The business has a fifty day moving average of $5.63 and a 200-day moving average of $5.95.

Gabelli Equity Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Monday, June 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date is Monday, June 15th.

Gabelli Equity Trust Company Profile

Gabelli Equity Trust, Inc (NYSE: GAB) is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.