Good Life Advisors LLC Trims Stock Holdings in The Gabelli Equity Trust Inc. (NYSE:GAB)

Good Life Advisors LLC lowered its position in The Gabelli Equity Trust Inc. (NYSE:GAB) by 64.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,141 shares of the financial services provider’s stock after selling 36,693 shares during the period. Good Life Advisors LLC’s holdings in The Gabelli Equity Trust were worth $108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of The Gabelli Equity Trust by 466.5% during the third quarter. International Assets Investment Management LLC now owns 2,301,030 shares of the financial services provider’s stock worth $12,633,000 after purchasing an additional 1,894,854 shares during the last quarter. Shaker Financial Services LLC raised its stake in shares of The Gabelli Equity Trust by 413.3% during the third quarter. Shaker Financial Services LLC now owns 652,653 shares of the financial services provider’s stock worth $3,583,000 after purchasing an additional 525,502 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of The Gabelli Equity Trust during the fourth quarter worth approximately $2,925,000. Accel Wealth Management raised its stake in shares of The Gabelli Equity Trust by 6.1% during the fourth quarter. Accel Wealth Management now owns 346,036 shares of the financial services provider’s stock worth $1,862,000 after purchasing an additional 19,990 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of The Gabelli Equity Trust by 6.1% during the third quarter. Advisors Asset Management Inc. now owns 212,791 shares of the financial services provider’s stock worth $1,168,000 after purchasing an additional 12,220 shares during the last quarter. Hedge funds and other institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Performance

The Gabelli Equity Trust stock opened at $5.56 on Friday. The Gabelli Equity Trust Inc. has a 12 month low of $5.09 and a 12 month high of $5.85. The business has a 50 day simple moving average of $5.49 and a 200-day simple moving average of $5.50.

The Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 10.80%. The ex-dividend date of this dividend is Monday, March 17th.

The Gabelli Equity Trust 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.