118,058 Shares in The Gabelli Equity Trust Inc. (NYSE:GAB) Purchased by Consolidated Portfolio Review Corp

Consolidated Portfolio Review Corp bought a new position in The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 118,058 shares of the financial services provider's stock, valued at approximately $648,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Concourse Financial Group Securities Inc. grew its holdings in The Gabelli Equity Trust by 252.9% during the 2nd quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 4,300 shares in the last quarter. Rothschild Investment LLC purchased a new position in The Gabelli Equity Trust in the 2nd quarter valued at about $31,000. CNB Bank acquired a new stake in shares of The Gabelli Equity Trust during the third quarter valued at about $38,000. CreativeOne Wealth LLC purchased a new stake in shares of The Gabelli Equity Trust during the first quarter worth about $56,000. Finally, Triton Wealth Management PLLC acquired a new position in shares of The Gabelli Equity Trust in the third quarter worth about $60,000. Hedge funds and other institutional investors own 7.24% of the company's stock.

The Gabelli Equity Trust Price Performance

NYSE GAB traded down $0.04 during mid-day trading on Friday, reaching $5.39. 532,176 shares of the company's stock traded hands, compared to its average volume of 489,099. The Gabelli Equity Trust Inc. has a 1-year low of $4.56 and a 1-year high of $5.74. The company has a fifty day simple moving average of $5.47 and a 200-day simple moving average of $5.40.

The Gabelli Equity Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.13%. The ex-dividend date was Monday, September 16th.

The Gabelli Equity Trust Company 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.