Great Valley Advisor Group Inc. Sells 10,056 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

Great Valley Advisor Group Inc. decreased its holdings in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 17.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,168 shares of the financial services provider’s stock after selling 10,056 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in The Gabelli Equity Trust were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. J.P. Morgan Private Wealth Advisors LLC bought a new position in The Gabelli Equity Trust in the 3rd quarter valued at $52,000. Envestnet Portfolio Solutions Inc. bought a new stake in The Gabelli Equity Trust during the third quarter valued at $69,000. CoreCap Advisors LLC grew its position in The Gabelli Equity Trust by 26.9% during the fourth quarter. CoreCap Advisors LLC now owns 13,491 shares of the financial services provider’s stock worth $69,000 after buying an additional 2,858 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in The Gabelli Equity Trust in the 4th quarter worth about $75,000. Finally, Cerity Partners LLC raised its holdings in shares of The Gabelli Equity Trust by 21.4% in the 4th quarter. Cerity Partners LLC now owns 14,979 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 2,641 shares in the last quarter. Hedge funds and other institutional investors own 7.24% of the company’s stock.

Insider Activity at The Gabelli Equity Trust

In other news, insider Mario J. Gabelli acquired 10,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was purchased at an average cost of $100.00 per share, for a total transaction of $1,000,000.00. Following the acquisition, the insider now owns 10,000 shares of the company’s stock, valued at $1,000,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is owned by insiders.

The Gabelli Equity Trust Stock Performance

GAB stock opened at $5.37 on Tuesday. The Gabelli Equity Trust Inc. has a 1-year low of $4.56 and a 1-year high of $5.88. The company’s 50 day moving average is $5.41 and its 200 day moving average is $5.19.

The Gabelli Equity Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 14th were given a $0.15 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.60 annualized dividend and a yield of 11.17%.

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.