Darden Wealth Group Inc Sells 5,000 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

Darden Wealth Group Inc lessened its holdings in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,000 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. Darden Wealth Group Inc’s holdings in The Gabelli Equity Trust were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of GAB. Wealth Enhancement Advisory Services LLC lifted its position in The Gabelli Equity Trust by 77.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 155,379 shares of the financial services provider’s stock valued at $853,000 after purchasing an additional 67,889 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of The Gabelli Equity Trust by 30.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 223,420 shares of the financial services provider’s stock valued at $1,202,000 after acquiring an additional 52,800 shares during the period. HighTower Advisors LLC increased its holdings in The Gabelli Equity Trust by 13.3% in the 3rd quarter. HighTower Advisors LLC now owns 84,531 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 9,914 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in The Gabelli Equity Trust during the 4th quarter worth approximately $58,000. Finally, Kera Capital Partners Inc. purchased a new position in The Gabelli Equity Trust during the fourth quarter valued at approximately $569,000. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Trading Down 5.9 %

GAB opened at $5.04 on Friday. The Gabelli Equity Trust Inc. has a 1-year low of $5.03 and a 1-year high of $5.85. The company has a 50 day simple moving average of $5.53 and a two-hundred day simple moving average of $5.51.

The Gabelli Equity Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 11.90%.

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.