Gabelli Equity Trust Inc. $GAB Stock Sold by Shaker Financial Services LLC

Shaker Financial Services LLC lowered its position in shares of Gabelli Equity Trust Inc. (NYSE:GAB) by 26.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,518,357 shares of the financial services provider’s stock after selling 554,812 shares during the period. Gabelli Equity Trust comprises about 2.6% of Shaker Financial Services LLC’s investment portfolio, making the stock its 4th biggest holding. Shaker Financial Services LLC owned approximately 0.49% of Gabelli Equity Trust worth $7,956,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GAB. Avidian Wealth Enterprises LLC raised its stake in shares of Gabelli Equity Trust by 39.6% during the third quarter. Avidian Wealth Enterprises LLC now owns 35,603 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 10,104 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Gabelli Equity Trust during the third quarter worth about $53,000. Integrated Wealth Concepts LLC bought a new stake in shares of Gabelli Equity Trust in the second quarter worth about $36,000. Baird Financial Group Inc. bought a new stake in shares of Gabelli Equity Trust in the second quarter worth about $94,000. Finally, 1607 Capital Partners LLC purchased a new position in Gabelli Equity Trust during the 2nd quarter valued at about $2,264,000. Institutional investors own 7.24% of the company’s stock.

Gabelli Equity Trust Stock Down 1.3%

NYSE:GAB traded down $0.07 during mid-day trading on Wednesday, reaching $5.12. 479,132 shares of the company’s stock traded hands, compared to its average volume of 1,030,827. Gabelli Equity Trust Inc. has a 12-month low of $5.12 and a 12-month high of $6.37. The company has a 50 day moving average price of $5.52 and a 200-day moving average price of $5.57.

Gabelli Equity Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date was Wednesday, September 16th.

About Gabelli Equity Trust

Gabelli Equity Trust Inc is a diversified closed-end investment company listed on the New York Stock Exchange under the symbol GAB. The fund seeks long-term growth of capital and income by investing primarily in a portfolio of equity securities, including common stocks of companies across a range of industries.

The trust is managed by Gabelli Funds, LLC, an investment adviser affiliated with GAMCO Investors, Inc Its investment approach is associated with fundamental, value-oriented research and may include investments in U.S.