Legacy Wealth Management LLC MS Has $403,000 Stake in The Gabelli Equity Trust Inc. (NYSE:GAB)

Legacy Wealth Management LLC MS lifted its holdings in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 53.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,976 shares of the financial services provider’s stock after purchasing an additional 26,032 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in The Gabelli Equity Trust were worth $403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. PFG Investments LLC raised its holdings in The Gabelli Equity Trust by 11.4% in the 2nd quarter. PFG Investments LLC now owns 81,782 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 8,364 shares in the last quarter. Choreo LLC bought a new position in shares of The Gabelli Equity Trust in the second quarter worth $481,000. Evernest Financial Advisors LLC raised its stake in The Gabelli Equity Trust by 14.0% in the second quarter. Evernest Financial Advisors LLC now owns 96,735 shares of the financial services provider’s stock valued at $503,000 after purchasing an additional 11,873 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in The Gabelli Equity Trust by 50.6% during the second quarter. Thrivent Financial for Lutherans now owns 158,517 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 53,227 shares during the period. Finally, Arista Wealth Management LLC acquired a new stake in The Gabelli Equity Trust during the second quarter worth about $245,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Equity Trust Price Performance

Shares of NYSE:GAB traded up $0.03 during midday trading on Monday, hitting $5.45. The stock had a trading volume of 118,240 shares, compared to its average volume of 284,653. The company’s 50-day moving average price is $5.56 and its 200-day moving average price is $5.45. The Gabelli Equity Trust Inc. has a fifty-two week low of $4.97 and a fifty-two week high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 11.01%. The ex-dividend date of this dividend 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.