Legacy Wealth Management LLC MS Takes $269,000 Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Legacy Wealth Management LLC MS purchased a new stake in The Gabelli Equity Trust Inc. (NYSE:GAB) during the third quarter, according to its most recent filing with the SEC. The firm purchased 48,944 shares of the financial services provider’s stock, valued at approximately $269,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GAB. Concourse Financial Group Securities Inc. boosted its position in shares of The Gabelli Equity Trust by 252.9% in the 2nd 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 acquired a new stake in shares of The Gabelli Equity Trust in the 2nd quarter worth $31,000. CNB Bank acquired a new stake in shares of The Gabelli Equity Trust in the 3rd quarter worth $38,000. Triton Wealth Management PLLC acquired a new stake in shares of The Gabelli Equity Trust in the 3rd quarter worth $60,000. Finally, Kapstone Financial Advisors LLC acquired a new stake in shares of The Gabelli Equity Trust in the 2nd quarter worth $61,000. 7.24% of the stock is currently owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Stock Down 0.4 %

Shares of The Gabelli Equity Trust stock traded down $0.02 during trading on Friday, reaching $5.59. The company’s stock had a trading volume of 449,956 shares, compared to its average volume of 572,821. The Gabelli Equity Trust Inc. has a 1-year low of $4.96 and a 1-year high of $5.85. The company has a 50-day simple moving average of $5.56 and a two-hundred day simple moving average of $5.46.

The Gabelli Equity Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a yield of 10.73%.

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.