The Gabelli Equity Trust Inc. (NYSE:GAB) Shares Acquired by Golden State Equity Partners

Golden State Equity Partners lifted its stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 2.0% during the fourth quarter, Holdings Channel reports. The firm owned 115,489 shares of the financial services provider’s stock after buying an additional 2,219 shares during the period. Golden State Equity Partners’ holdings in The Gabelli Equity Trust were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GAB. AE Wealth Management LLC raised its position in shares of The Gabelli Equity Trust by 25.8% during the 3rd quarter. AE Wealth Management LLC now owns 28,279 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 5,802 shares during the period. Meridian Wealth Management LLC grew its holdings in The Gabelli Equity Trust by 104.9% in the 3rd quarter. Meridian Wealth Management LLC now owns 34,210 shares of the financial services provider’s stock worth $175,000 after buying an additional 17,518 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in The Gabelli Equity Trust by 2.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,699,697 shares of the financial services provider’s stock worth $8,719,000 after buying an additional 38,228 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in The Gabelli Equity Trust by 2.9% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 119,111 shares of the financial services provider’s stock worth $611,000 after buying an additional 3,353 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in The Gabelli Equity Trust in the 3rd quarter worth approximately $642,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Equity Trust Stock Performance

GAB stock traded up $0.01 on Friday, reaching $5.31. The company’s stock had a trading volume of 194,386 shares, compared to its average volume of 448,432. The Gabelli Equity Trust Inc. has a 52 week low of $4.56 and a 52 week high of $5.88. The firm has a fifty day moving average of $5.41 and a two-hundred day moving average of $5.17.

The Gabelli Equity Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 14th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 11.30%. The ex-dividend date was Wednesday, March 13th.

Insider Buying and Selling at The Gabelli Equity Trust

In other news, insider Mario J. Gabelli purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was purchased at an average cost of $100.00 per share, with a total value of $1,000,000.00. Following the purchase, the insider now owns 10,000 shares in the company, valued at approximately $1,000,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

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.