Gabelli Equity Trust Inc. $GAB Holdings Decreased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. decreased its holdings in shares of Gabelli Equity Trust Inc. (NYSE:GAB) by 15.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,082,702 shares of the financial services provider’s stock after selling 197,776 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Gabelli Equity Trust were worth $6,602,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GAB. Truist Financial Corp grew its stake in Gabelli Equity Trust by 722.6% in the fourth quarter. Truist Financial Corp now owns 172,371 shares of the financial services provider’s stock valued at $1,064,000 after purchasing an additional 151,416 shares in the last quarter. PMG Family Office LLC purchased a new position in Gabelli Equity Trust in the third quarter valued at about $848,000. Bank of America Corp DE grew its stake in Gabelli Equity Trust by 18.8% in the third quarter. Bank of America Corp DE now owns 631,227 shares of the financial services provider’s stock valued at $3,844,000 after purchasing an additional 99,912 shares in the last quarter. World Investment Advisors purchased a new position in Gabelli Equity Trust in the fourth quarter valued at about $511,000. Finally, Raymond James Financial Inc. grew its stake in Gabelli Equity Trust by 14.6% in the third quarter. Raymond James Financial Inc. now owns 635,163 shares of the financial services provider’s stock valued at $3,868,000 after purchasing an additional 80,781 shares in the last quarter. Hedge funds and other institutional investors own 7.24% of the company’s stock.

Gabelli Equity Trust Stock Performance

Shares of NYSE GAB opened at $5.52 on Friday. The business’s 50-day moving average price is $5.59 and its two-hundred day moving average price is $5.90. Gabelli Equity Trust Inc. has a one year low of $5.28 and a one year high of $6.37.

Gabelli Equity Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be paid a $0.15 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.60 dividend on an annualized basis and a yield of 10.9%.

About Gabelli Equity Trust

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.