International Assets Investment Management LLC Reduces Holdings in The Gabelli Equity Trust Inc. (NYSE:GAB)

International Assets Investment Management LLC decreased its position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 81.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 417,926 shares of the financial services provider’s stock after selling 1,883,104 shares during the quarter. International Assets Investment Management LLC’s holdings in The Gabelli Equity Trust were worth $2,244,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CNB Bank purchased a new position in shares of The Gabelli Equity Trust in the third quarter valued at $38,000. Triton Wealth Management PLLC bought a new position in The Gabelli Equity Trust in the 3rd quarter worth about $60,000. Meridian Wealth Management LLC purchased a new position in The Gabelli Equity Trust during the 3rd quarter valued at about $75,000. Executive Wealth Management LLC bought a new stake in shares of The Gabelli Equity Trust during the third quarter valued at about $82,000. Finally, Arete Wealth Advisors LLC bought a new stake in shares of The Gabelli Equity Trust during the third quarter valued at about $85,000. Hedge funds and other institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Performance

GAB stock opened at $5.38 on Thursday. The firm has a 50 day moving average of $5.56 and a 200-day moving average of $5.46. The Gabelli Equity Trust Inc. has a 12 month low of $4.98 and a 12 month high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 11.15%. The ex-dividend date was Friday, December 13th.

The Gabelli Equity Trust Company 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.