Shaker Financial Services LLC grew its position in The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 413.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 652,653 shares of the financial services provider's stock after purchasing an additional 525,502 shares during the quarter. The Gabelli Equity Trust makes up about 1.4% of Shaker Financial Services LLC's investment portfolio, making the stock its 23rd largest holding. Shaker Financial Services LLC owned approximately 0.22% of The Gabelli Equity Trust worth $3,583,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Concourse Financial Group Securities Inc. boosted its position in shares of 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 acquiring an additional 4,300 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of The Gabelli Equity Trust during the 2nd quarter valued at about $31,000. CNB Bank purchased a new position in shares of The Gabelli Equity Trust during the third quarter valued at about $38,000. CreativeOne Wealth LLC bought a new stake in shares of The Gabelli Equity Trust in the first quarter worth about $56,000. Finally, Triton Wealth Management PLLC purchased a new stake in shares of The Gabelli Equity Trust in the third quarter worth about $60,000. 7.24% of the stock is owned by hedge funds and other institutional investors.
The Gabelli Equity Trust Stock Performance
The Gabelli Equity Trust stock remained flat at $5.56 during midday trading on Thursday. The company had a trading volume of 727,791 shares, compared to its average volume of 575,896. The business's 50 day moving average price is $5.46 and its two-hundred day moving average price is $5.41. The Gabelli Equity Trust Inc. has a 52 week low of $4.71 and a 52 week high of $5.74.
The Gabelli Equity Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were paid a $0.15 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.80%.
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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