Wedbush Securities Inc. Lowers Position in Gabelli Equity Trust Inc. $GAB

Wedbush Securities Inc. decreased its position in shares of Gabelli Equity Trust Inc. (NYSE:GAB) by 47.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,329 shares of the financial services provider’s stock after selling 177,439 shares during the quarter. Wedbush Securities Inc. owned 0.06% of Gabelli Equity Trust worth $1,134,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GAB. Safeguard Investment Advisory Group LLC purchased a new stake in Gabelli Equity Trust during the second quarter worth $75,000. Leigh Baldwin & CO. LLC purchased a new position in Gabelli Equity Trust in the second quarter valued at $487,000. Sanctuary Advisors LLC acquired a new position in shares of Gabelli Equity Trust in the second quarter worth about $57,000. Capital Square LLC acquired a new position in shares of Gabelli Equity Trust in the second quarter worth about $116,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Gabelli Equity Trust during the 2nd quarter worth about $57,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

Gabelli Equity Trust Stock Performance

NYSE:GAB opened at $5.67 on Tuesday. Gabelli Equity Trust Inc. has a 52 week low of $5.28 and a 52 week high of $6.37. The stock’s 50-day moving average price is $5.67 and its 200-day moving average price is $5.69.

Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 16th. This represents a $0.60 dividend on an annualized basis and a yield of 10.6%.

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.