Gabelli Equity Trust Inc. $GAB Stock: Accel Wealth Management Cuts Holdings

Accel Wealth Management trimmed its holdings in shares of Gabelli Equity Trust Inc. (NYSE:GAB) by 47.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,374 shares of the financial services provider’s stock after selling 154,166 shares during the quarter. Accel Wealth Management owned 0.05% of Gabelli Equity Trust worth $888,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC bought a new position in shares of Gabelli Equity Trust during the second quarter valued at $37,409,000. 1607 Capital Partners LLC acquired a new stake in Gabelli Equity Trust in the second quarter valued at $2,264,000. IMC Chicago LLC acquired a new stake in Gabelli Equity Trust in the second quarter valued at $1,038,000. Leigh Baldwin & CO. LLC acquired a new stake in Gabelli Equity Trust in the second quarter valued at $487,000. Finally, World Investment Advisors bought a new position in Gabelli Equity Trust during the 4th quarter worth $511,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

Gabelli Equity Trust Stock Up 0.7%

NYSE:GAB traded up $0.04 during trading hours on Tuesday, hitting $5.20. 838,652 shares of the company were exchanged, compared to its average volume of 1,033,813. Gabelli Equity Trust Inc. has a one year low of $5.13 and a one year high of $6.37. The company has a fifty day simple moving average of $5.53 and a 200 day simple moving average of $5.57.

Gabelli Equity Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 11.5%.

Gabelli Equity Trust Company Profile

Gabelli Equity Trust Inc is a diversified closed-end investment company listed on the New York Stock Exchange under the symbol GAB. The fund seeks long-term growth of capital and income by investing primarily in a portfolio of equity securities, including common stocks of companies across a range of industries.

The trust is managed by Gabelli Funds, LLC, an investment adviser affiliated with GAMCO Investors, Inc Its investment approach is associated with fundamental, value-oriented research and may include investments in U.S.