Cascade Investment Group Inc. Sells 6,286 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

Cascade Investment Group Inc. lowered its position in The Gabelli Equity Trust Inc. (NYSE:GAB) by 34.9% during the 4th quarter, Holdings Channel reports. The firm owned 11,749 shares of the financial services provider’s stock after selling 6,286 shares during the quarter. Cascade Investment Group Inc.’s holdings in The Gabelli Equity Trust were worth $63,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GAB. CNB Bank purchased a new stake in shares of The Gabelli Equity Trust in the 3rd quarter worth $38,000. Triton Wealth Management PLLC purchased a new stake in The Gabelli Equity Trust in the third quarter worth about $60,000. Meridian Wealth Management LLC bought a new position in The Gabelli Equity Trust during the 3rd quarter worth about $75,000. Executive Wealth Management LLC purchased a new position in The Gabelli Equity Trust during the 3rd quarter valued at about $82,000. Finally, Arete Wealth Advisors LLC bought a new stake in shares of The Gabelli Equity Trust in the 3rd quarter valued at about $85,000. 7.24% of the stock is currently owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Trading Up 0.8 %

NYSE GAB opened at $5.49 on Monday. The firm’s 50 day moving average price is $5.55 and its 200-day moving average price is $5.46. The Gabelli Equity Trust Inc. has a 52-week low of $5.03 and a 52-week 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. Shareholders of record on Friday, December 13th were given a dividend of $0.15 per share. The ex-dividend date was Friday, December 13th. This represents a $0.60 annualized dividend and a yield of 10.94%.

The Gabelli Equity Trust Company 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.