Darden Wealth Group Inc Lowers Stake in The Gabelli Equity Trust Inc. (NYSE:GAB)

Darden Wealth Group Inc trimmed its position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kentucky Trust Co acquired a new position in shares of The Gabelli Equity Trust in the fourth quarter valued at about $40,000. Aurora Private Wealth Inc. acquired a new position in The Gabelli Equity Trust during the fourth quarter valued at $56,000. Strategic Financial Concepts LLC purchased a new stake in The Gabelli Equity Trust in the fourth quarter valued at $58,000. MTM Investment Management LLC purchased a new position in shares of The Gabelli Equity Trust during the 4th quarter valued at about $73,000. Finally, Executive Wealth Management LLC purchased a new stake in shares of The Gabelli Equity Trust in the third quarter worth about $82,000. Hedge funds and other institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Down 5.9 %

The Gabelli Equity Trust stock opened at $5.04 on Friday. The business’s 50-day moving average price is $5.53 and its 200 day moving average price is $5.51. The Gabelli Equity Trust Inc. has a 52 week low of $5.03 and a 52 week high of $5.85.

The Gabelli Equity Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, March 17th. This represents a $0.60 dividend on an annualized basis 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.