Wealth Enhancement Advisory Services LLC raised its holdings in shares of The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 77.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,379 shares of the financial services provider's stock after purchasing an additional 67,889 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.05% of The Gabelli Equity Trust worth $853,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GAB. CNB Bank purchased a new position in The Gabelli Equity Trust during the third quarter valued at $38,000. Triton Wealth Management PLLC purchased a new position in The Gabelli Equity Trust in the third quarter valued at about $60,000. Meridian Wealth Management LLC purchased a new position in shares of The Gabelli Equity Trust in the 3rd quarter worth approximately $75,000. Executive Wealth Management LLC purchased a new stake in The Gabelli Equity Trust during the 3rd quarter worth approximately $82,000. Finally, Arete Wealth Advisors LLC purchased a new stake in The Gabelli Equity Trust during the 3rd quarter worth approximately $85,000. Hedge funds and other institutional investors own 7.24% of the company's stock.
The Gabelli Equity Trust Stock Performance
NYSE GAB traded up $0.02 on Thursday, hitting $5.46. 228,478 shares of the company's stock traded hands, compared to its average volume of 425,528. The Gabelli Equity Trust Inc. has a 1-year low of $4.98 and a 1-year high of $5.85. The firm's 50-day moving average price is $5.56 and its two-hundred day moving average price is $5.46.
The Gabelli Equity Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 11.00%. The ex-dividend date was Friday, December 13th.
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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