IFP Advisors Inc lowered its position in shares of Gabelli Equity Trust, Inc. (The) (NYSE:GAB) by 44.3% during the second quarter, Holdings Channel reports. The fund owned 122,408 shares of the financial services provider’s stock after selling 97,193 shares during the period. IFP Advisors Inc’s holdings in Gabelli Equity Trust, Inc. (The) were worth $756,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GAB. Stratos Wealth Partners LTD. boosted its position in shares of Gabelli Equity Trust, Inc. (The) by 21.1% in the second quarter. Stratos Wealth Partners LTD. now owns 126,848 shares of the financial services provider’s stock worth $784,000 after buying an additional 22,117 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Gabelli Equity Trust, Inc. (The) by 24.9% in the second quarter. Janney Montgomery Scott LLC now owns 19,612 shares of the financial services provider’s stock worth $121,000 after buying an additional 3,906 shares during the last quarter. Finally, Kelman Lazarov Inc. purchased a new position in shares of Gabelli Equity Trust, Inc. (The) during the second quarter worth approximately $103,000. 7.57% of the stock is owned by institutional investors and hedge funds.

Gabelli Equity Trust, Inc. (NYSE:GAB) opened at 6.15 on Friday. Gabelli Equity Trust, Inc. has a one year low of $5.13 and a one year high of $6.36. The firm’s 50 day moving average price is $6.24 and its 200-day moving average price is $6.07.

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About Gabelli Equity Trust, Inc. (The)

The Gabelli Equity Trust Inc (the Fund) is a non-diversified, closed-end management investment company. The Fund’s primary objective is to achieve long term growth of capital with income as a secondary objective. The Fund will invest at least 80% of its assets in equity securities under normal market conditions.

Want to see what other hedge funds are holding GAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gabelli Equity Trust, Inc. (The) (NYSE:GAB).

Institutional Ownership by Quarter for Gabelli Equity Trust, Inc. (The) (NYSE:GAB)

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