Live Oak Private Wealth LLC Has $3.60 Million Holdings in Gabelli Equity Trust Inc. $GAB

Live Oak Private Wealth LLC lessened its position in Gabelli Equity Trust Inc. (NYSE:GAB) by 38.2% in the 2nd quarter, Holdings Channel reports. The fund owned 635,255 shares of the financial services provider’s stock after selling 393,131 shares during the period. Live Oak Private Wealth LLC’s holdings in Gabelli Equity Trust were worth $3,596,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GAB. IMC Chicago LLC purchased a new stake in shares of Gabelli Equity Trust in the second quarter valued at $1,038,000. Truist Financial Corp grew its holdings in shares of Gabelli Equity Trust by 722.6% during the fourth quarter. Truist Financial Corp now owns 172,371 shares of the financial services provider’s stock valued at $1,064,000 after buying an additional 151,416 shares in the last quarter. Rivernorth Capital Management LLC purchased a new position in shares of Gabelli Equity Trust during the second quarter valued at $37,409,000. Summit Wealth Group LLC Co. acquired a new position in Gabelli Equity Trust during the fourth quarter valued at $70,000. Finally, Drucker Wealth 3.0 LLC acquired a new position in Gabelli Equity Trust during the fourth quarter valued at $126,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

Gabelli Equity Trust Price Performance

Shares of Gabelli Equity Trust stock opened at $5.64 on Wednesday. Gabelli Equity Trust Inc. has a 1 year low of $5.28 and a 1 year high of $6.37. The stock has a 50-day moving average price of $5.67 and a 200 day moving average price of $5.69.

Gabelli Equity Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.6%.

Gabelli Equity Trust Company Profile

Gabelli Equity Trust, Inc (NYSE: GAB) is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.