LPL Financial LLC raised its stake in The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 28.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,520,427 shares of the financial services provider's stock after acquiring an additional 776,591 shares during the period. LPL Financial LLC owned approximately 1.17% of The Gabelli Equity Trust worth $18,940,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of GAB. Kentucky Trust Co bought a new position in shares of The Gabelli Equity Trust in the fourth quarter worth $40,000. Aurora Private Wealth Inc. acquired a new position in shares of The Gabelli Equity Trust in the 4th quarter valued at approximately $56,000. Strategic Financial Concepts LLC bought a new stake in shares of The Gabelli Equity Trust during the 4th quarter worth approximately $58,000. MTM Investment Management LLC acquired a new stake in shares of The Gabelli Equity Trust during the 4th quarter worth approximately $73,000. Finally, Executive Wealth Management LLC acquired a new stake in shares of The Gabelli Equity Trust during the 3rd quarter worth approximately $82,000. 7.24% of the stock is currently owned by institutional investors.
The Gabelli Equity Trust Stock Down 5.9 %
GAB traded down $0.32 during trading on Friday, hitting $5.04. 2,131,848 shares of the stock traded hands, compared to its average volume of 563,828. The business has a 50 day moving average price of $5.53 and a 200 day moving average price of $5.51. The Gabelli Equity Trust Inc. has a twelve month low of $5.03 and a twelve month high of $5.85.
The Gabelli Equity Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were given a dividend of $0.15 per share. The ex-dividend date was Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 11.90%.
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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