Commonwealth Equity Services LLC Raises Stake in The Gabelli Equity Trust Inc. (NYSE:GAB)

Commonwealth Equity Services LLC raised its position in The Gabelli Equity Trust Inc. (NYSE:GAB) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,903,700 shares of the financial services provider’s stock after purchasing an additional 12,503 shares during the period. Commonwealth Equity Services LLC owned 0.63% of The Gabelli Equity Trust worth $10,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Kentucky Trust Co acquired a new position in shares of The Gabelli Equity Trust during the fourth quarter worth $40,000. Aurora Private Wealth Inc. purchased a new stake in The Gabelli Equity Trust during the fourth quarter worth approximately $56,000. Strategic Financial Concepts LLC acquired a new position in The Gabelli Equity Trust in the fourth quarter valued at approximately $58,000. MTM Investment Management LLC purchased a new stake in shares of The Gabelli Equity Trust during the 4th quarter worth approximately $73,000. Finally, Meridian Wealth Management LLC acquired a new position in shares of The Gabelli Equity Trust in the 3rd quarter valued at $75,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Equity Trust Trading Up 1.4 %

Shares of NYSE:GAB opened at $5.45 on Thursday. The company’s fifty day moving average price is $5.52 and its 200 day moving average price is $5.52. The Gabelli Equity Trust Inc. has a 12 month low of $5.09 and a 12 month high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 11.02%.

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.