The Gabelli Equity Trust Inc. (NYSE:GAB) Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its stake in The Gabelli Equity Trust Inc. (NYSE:GAB) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,903,700 shares of the financial services provider’s stock after acquiring an additional 12,503 shares during the period. Commonwealth Equity Services LLC’s holdings in The Gabelli Equity Trust were worth $10,242,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Kentucky Trust Co purchased a new position in The Gabelli Equity Trust in the 4th quarter valued at $40,000. Aurora Private Wealth Inc. acquired a new stake in shares of The Gabelli Equity Trust in the 4th quarter worth $56,000. Strategic Financial Concepts LLC purchased a new stake in shares of The Gabelli Equity Trust in the fourth quarter valued at about $58,000. MTM Investment Management LLC acquired a new position in shares of The Gabelli Equity Trust during the fourth quarter worth about $73,000. Finally, Meridian Wealth Management LLC acquired a new position in The Gabelli Equity Trust during the 3rd quarter worth approximately $75,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

The Gabelli Equity Trust Trading Up 1.4 %

NYSE:GAB opened at $5.45 on Thursday. The Gabelli Equity Trust Inc. has a 1 year low of $5.09 and a 1 year high of $5.85. The stock has a fifty day moving average price of $5.52 and a two-hundred day moving average price of $5.52.

The Gabelli Equity Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 11.02%.

The Gabelli Equity Trust 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.