Raymond James Financial Inc. purchased a new position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 485,966 shares of the financial services provider's stock, valued at approximately $2,614,000. Raymond James Financial Inc. owned approximately 0.16% of The Gabelli Equity Trust as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of GAB. Golden State Wealth Management LLC acquired a new position in The Gabelli Equity Trust during the fourth quarter worth about $2,925,000. Kera Capital Partners Inc. acquired a new stake in The Gabelli Equity Trust in the fourth quarter valued at approximately $569,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of The Gabelli Equity Trust by 77.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 155,379 shares of the financial services provider's stock worth $853,000 after buying an additional 67,889 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of The Gabelli Equity Trust during the fourth quarter worth $327,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of The Gabelli Equity Trust by 30.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 223,420 shares of the financial services provider's stock valued at $1,202,000 after acquiring an additional 52,800 shares during the last quarter. Institutional investors and hedge funds own 7.24% of the company's stock.
The Gabelli Equity Trust Trading Up 0.4 %
GAB stock traded up $0.02 during midday trading on Wednesday, reaching $5.50. 415,294 shares of the stock were exchanged, compared to its average volume of 554,627. The Gabelli Equity Trust Inc. has a 52 week low of $5.09 and a 52 week high of $5.85. The company has a fifty day moving average price of $5.54 and a 200 day moving average price of $5.52.
The Gabelli Equity Trust Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.91%. The ex-dividend date was Monday, March 17th.
About The Gabelli Equity Trust
(
Free Report)
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.
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