Legacy Wealth Management LLC MS Has $307,000 Holdings in Gabelli Equity Trust Inc. $GAB

Legacy Wealth Management LLC MS raised its holdings in Gabelli Equity Trust Inc. (NYSE:GAB) by 184.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,739 shares of the financial services provider’s stock after buying an additional 34,188 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in Gabelli Equity Trust were worth $307,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Gabelli Equity Trust by 472.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,850 shares of the financial services provider’s stock valued at $43,000 after buying an additional 6,479 shares during the period. PNC Financial Services Group Inc. lifted its stake in Gabelli Equity Trust by 194.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,251 shares of the financial services provider’s stock valued at $45,000 after buying an additional 5,447 shares during the period. Novem Group acquired a new position in Gabelli Equity Trust in the first quarter valued at approximately $58,000. Elequin Capital LP bought a new stake in shares of Gabelli Equity Trust during the fourth quarter valued at approximately $69,000. Finally, Sagespring Wealth Partners LLC bought a new stake in shares of Gabelli Equity Trust during the first quarter valued at approximately $74,000. 7.24% of the stock is owned by institutional investors and hedge funds.

Gabelli Equity Trust Stock Performance

NYSE GAB opened at $6.30 on Friday. Gabelli Equity Trust Inc. has a 52 week low of $4.50 and a 52 week high of $6.32. The business has a 50 day moving average price of $5.98 and a 200-day moving average price of $5.71.

Gabelli Equity Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 9.5%.

About 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.