The Gabelli Equity Trust Inc. (NYSE:GAB) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 56.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,077 shares of the financial services provider’s stock after selling 53,006 shares during the period. Truist Financial Corp’s holdings in The Gabelli Equity Trust were worth $208,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in shares of The Gabelli Equity Trust by 22.4% during the first quarter. Commonwealth Equity Services LLC now owns 2,573,366 shares of the financial services provider’s stock worth $14,205,000 after buying an additional 470,699 shares during the period. Cetera Investment Advisers grew its stake in shares of The Gabelli Equity Trust by 1,196.4% in the first quarter. Cetera Investment Advisers now owns 449,417 shares of the financial services provider’s stock worth $2,481,000 after purchasing an additional 414,751 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of The Gabelli Equity Trust by 244.9% during 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. bought a new stake in shares of The Gabelli Equity Trust during the first quarter valued at about $716,000. Finally, Choreo LLC acquired a new stake in 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 Price Performance

The Gabelli Equity Trust stock opened at $5.50 on Friday. The Gabelli Equity Trust Inc. has a 52 week low of $4.56 and a 52 week high of $5.74. The company’s 50-day moving average price is $5.45 and its two-hundred day moving average price is $5.40.

The Gabelli Equity Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were paid 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 10.91%.

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.