Brookstone Capital Management Lowers Stake in The Gabelli Equity Trust Inc. (NYSE:GAB)

Brookstone Capital Management trimmed its position in The Gabelli Equity Trust Inc. (NYSE:GAB) by 9.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,032 shares of the financial services provider’s stock after selling 5,580 shares during the quarter. Brookstone Capital Management’s holdings in The Gabelli Equity Trust were worth $280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GAB. Commonwealth Equity Services LLC raised its holdings in The Gabelli Equity Trust by 22.4% in the first quarter. Commonwealth Equity Services LLC now owns 2,573,366 shares of the financial services provider’s stock valued at $14,205,000 after buying an additional 470,699 shares during the period. Cetera Investment Advisers increased its holdings in The Gabelli Equity Trust by 1,196.4% in the 1st quarter. Cetera Investment Advisers now owns 449,417 shares of the financial services provider’s stock valued at $2,481,000 after purchasing an additional 414,751 shares in the last quarter. International Assets Investment Management LLC raised its position in The Gabelli Equity Trust by 244.9% in the second quarter. International Assets Investment Management LLC now owns 406,176 shares of the financial services provider’s stock valued at $2,112,000 after purchasing an additional 288,400 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of The Gabelli Equity Trust during the first quarter worth about $716,000. Finally, Choreo LLC purchased a new stake in shares of The Gabelli Equity Trust in the second quarter worth about $481,000. 7.24% of the stock is owned by institutional investors and hedge funds.

The Gabelli Equity Trust Trading Up 0.6 %

Shares of NYSE:GAB opened at $5.47 on Tuesday. The Gabelli Equity Trust Inc. has a one year low of $4.56 and a one year high of $5.74. The business’s 50-day simple moving average is $5.43 and its 200 day simple moving average is $5.40.

The Gabelli Equity Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.97%.

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.