International Assets Investment Management LLC lifted its stake in The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 466.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,301,030 shares of the financial services provider's stock after acquiring an additional 1,894,854 shares during the quarter. International Assets Investment Management LLC owned 0.76% of The Gabelli Equity Trust worth $12,633,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Concourse Financial Group Securities Inc. lifted its stake in The Gabelli Equity Trust by 252.9% during the second quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider's stock worth $31,000 after purchasing an additional 4,300 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of The Gabelli Equity Trust in the 2nd quarter valued at $31,000. CNB Bank acquired a new position in The Gabelli Equity Trust during the 3rd quarter worth about $38,000. CreativeOne Wealth LLC purchased a new position in The Gabelli Equity Trust during the 1st quarter valued at about $56,000. Finally, Triton Wealth Management PLLC acquired a new position in The Gabelli Equity Trust in the 3rd quarter valued at about $60,000. Hedge funds and other institutional investors own 7.24% of the company's stock.
The Gabelli Equity Trust Stock Down 1.3 %
Shares of GAB traded down $0.07 during mid-day trading on Thursday, hitting $5.37. 693,849 shares of the company's stock were exchanged, compared to its average volume of 570,564. The stock's 50-day moving average is $5.47 and its 200-day moving average is $5.40. The Gabelli Equity Trust Inc. has a fifty-two week low of $4.57 and a fifty-two week high of $5.74.
The Gabelli Equity Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were given a $0.15 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.60 annualized dividend and a yield of 11.17%.
The Gabelli Equity Trust Profile
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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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