Independent Advisor Alliance bought a new stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 367,744 shares of the financial services provider's stock, valued at approximately $1,978,000. Independent Advisor Alliance owned approximately 0.12% of The Gabelli Equity Trust at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in 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 valued at $853,000 after purchasing an additional 67,889 shares during the period. HighTower Advisors LLC increased its position in shares of The Gabelli Equity Trust by 13.3% during the 3rd quarter. HighTower Advisors LLC now owns 84,531 shares of the financial services provider's stock valued at $462,000 after purchasing an additional 9,914 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in The Gabelli Equity Trust by 30.9% during 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 buying an additional 52,800 shares during the period. Strategic Financial Concepts LLC bought a new stake in The Gabelli Equity Trust in the fourth quarter worth $58,000. Finally, Kera Capital Partners Inc. purchased a new position in The Gabelli Equity Trust during the fourth quarter worth $569,000. Institutional investors own 7.24% of the company's stock.
The Gabelli Equity Trust Trading Up 0.8 %
GAB stock traded up $0.05 during mid-day trading on Monday, reaching $5.39. 1,028,474 shares of the stock traded hands, compared to its average volume of 559,611. The business has a 50-day moving average price of $5.52 and a two-hundred day moving average price of $5.52. The Gabelli Equity Trust Inc. has a one year low of $5.09 and a one year high of $5.85.
The Gabelli Equity Trust Announces Dividend
The company also recently declared 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 11.14%.
The Gabelli Equity Trust Company Profile
(
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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