Wolverine Asset Management LLC Purchases 98,444 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

Wolverine Asset Management LLC raised its stake in The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 435.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,044 shares of the financial services provider's stock after acquiring an additional 98,444 shares during the quarter. Wolverine Asset Management LLC's holdings in The Gabelli Equity Trust were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. PFG Investments LLC raised its stake in The Gabelli Equity Trust by 2.3% in the 3rd quarter. PFG Investments LLC now owns 83,651 shares of the financial services provider's stock valued at $459,000 after acquiring an additional 1,869 shares during the period. Magnus Financial Group LLC boosted its stake in shares of The Gabelli Equity Trust by 2.7% in the 2nd quarter. Magnus Financial Group LLC now owns 78,166 shares of the financial services provider's stock valued at $406,000 after purchasing an additional 2,063 shares in the last quarter. Evernest Financial Advisors LLC lifted its stake in shares of The Gabelli Equity Trust by 2.8% in the 3rd quarter. Evernest Financial Advisors LLC now owns 99,398 shares of the financial services provider's stock valued at $546,000 after acquiring an additional 2,663 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of The Gabelli Equity Trust by 5.1% during the second quarter. Brookstone Capital Management now owns 56,612 shares of the financial services provider's stock worth $311,000 after purchasing an additional 2,759 shares during the last quarter. Finally, IFG Advisory LLC lifted its holdings in shares of The Gabelli Equity Trust by 11.7% during the second quarter. IFG Advisory LLC now owns 31,486 shares of the financial services provider's stock worth $164,000 after purchasing an additional 3,300 shares during the period. 7.24% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Equity Trust Stock Down 1.3 %

Shares of NYSE GAB traded down $0.07 during midday trading on Thursday, reaching $5.51. The stock had a trading volume of 426,113 shares, compared to its average volume of 573,389. The Gabelli Equity Trust Inc. has a twelve month low of $4.95 and a twelve month high of $5.74. The company's 50 day moving average price is $5.46 and its 200 day moving average price is $5.42.

The Gabelli Equity Trust Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.89%.

The Gabelli Equity Trust 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.