The Gabelli Equity Trust Inc. (NYSE:GAB) Stock Position Decreased by Pecaut & CO.

Pecaut & CO. cut its position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 52.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 17,136 shares of the financial services provider’s stock after selling 18,624 shares during the period. Pecaut & CO.’s holdings in The Gabelli Equity Trust were worth $89,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Steward Partners Investment Solutions LLC acquired a new stake in The Gabelli Equity Trust during the 4th quarter valued at $27,000. Concourse Financial Group Securities Inc. lifted its position in shares of The Gabelli Equity Trust by 252.9% in the second quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 4,300 shares in the last quarter. Rothschild Investment LLC purchased a new position in The Gabelli Equity Trust during the second quarter valued at approximately $31,000. ICA Group Wealth Management LLC acquired a new stake in shares of The Gabelli Equity Trust during the 4th quarter valued at $32,000. Finally, CreativeOne Wealth LLC acquired a new position in The Gabelli Equity Trust in the 1st quarter worth about $56,000. 7.24% of the stock is owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Stock Performance

NYSE:GAB opened at $5.51 on Thursday. The stock’s 50 day moving average price is $5.39 and its 200 day moving average price is $5.41. The Gabelli Equity Trust Inc. has a 52 week low of $4.56 and a 52 week high of $5.74.

The Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 16th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 10.89%. The ex-dividend date of this dividend is Monday, September 16th.

Insider Buying and Selling

In related news, insider Mario J. Gabelli purchased 11,750 shares of The Gabelli Equity Trust stock in a transaction on Wednesday, June 26th. The stock was bought at an average price of $100.00 per share, with a total value of $1,175,000.00. Following the completion of the transaction, the insider now directly owns 16,750 shares of the company’s stock, valued at $1,675,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by corporate insiders.

About The Gabelli Equity Trust

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.