PCG Wealth Advisors LLC Has $66,000 Position in Gabelli Equity Trust Inc. (NYSE:GAB)

PCG Wealth Advisors LLC lessened its holdings in Gabelli Equity Trust Inc. (NYSE:GAB) by 24.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,920 shares of the financial services provider’s stock after selling 3,890 shares during the quarter. PCG Wealth Advisors LLC’s holdings in Gabelli Equity Trust were worth $66,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Leigh Baldwin & CO. LLC acquired a new stake in Gabelli Equity Trust during the 4th quarter worth approximately $463,000. Janney Montgomery Scott LLC lifted its position in shares of Gabelli Equity Trust by 93.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 138,210 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 66,772 shares during the period. Golden State Wealth Management LLC lifted its position in shares of Gabelli Equity Trust by 90.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,037,271 shares of the financial services provider’s stock worth $5,715,000 after purchasing an additional 493,510 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Gabelli Equity Trust by 60.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 140,181 shares of the financial services provider’s stock worth $754,000 after purchasing an additional 52,691 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Gabelli Equity Trust during the 4th quarter valued at $2,614,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

Gabelli Equity Trust Trading Up 0.7%

Gabelli Equity Trust stock opened at $5.93 on Friday. The firm’s fifty day moving average is $5.79 and its 200 day moving average is $5.57. Gabelli Equity Trust Inc. has a 12-month low of $4.50 and a 12-month high of $5.95.

Gabelli Equity Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 10.12%.

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.