Steward Partners Investment Solutions LLC Acquires New Stake in The Gabelli Equity Trust Inc. (NYSE:GAB)

Steward Partners Investment Solutions LLC acquired a new stake in shares of The Gabelli Equity Trust Inc. (NYSE:GABFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,350 shares of the financial services provider’s stock, valued at approximately $27,000.

A number of other hedge funds have also made changes to their positions in the stock. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of The Gabelli Equity Trust in the 3rd quarter valued at $52,000. Jump Financial LLC acquired a new stake in shares of The Gabelli Equity Trust in the 4th quarter valued at $58,000. CoreCap Advisors LLC lifted its stake in shares of The Gabelli Equity Trust by 26.9% in the 4th quarter. CoreCap Advisors LLC now owns 13,491 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 2,858 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of The Gabelli Equity Trust in the 3rd quarter valued at $69,000. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of The Gabelli Equity Trust in the 4th quarter valued at $75,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Up 0.7 %

GAB stock opened at $5.53 on Tuesday. The Gabelli Equity Trust Inc. has a 1 year low of $4.56 and a 1 year high of $5.88. The company has a fifty day simple moving average of $5.40 and a 200 day simple moving average of $5.28.

The Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Thursday, June 13th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 10.85%. The ex-dividend date is Thursday, June 13th.

The Gabelli Equity Trust Profile

(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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Institutional Ownership by Quarter for The Gabelli Equity Trust (NYSE:GAB)

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