Capital Square LLC Purchases New Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Capital Square LLC acquired a new position in The Gabelli Equity Trust Inc. (NYSE:GAB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 18,747 shares of the financial services provider’s stock, valued at approximately $103,000.

Other hedge funds have also modified their holdings of the company. PFG Investments LLC grew its position in The Gabelli Equity Trust by 2.3% in the third quarter. PFG Investments LLC now owns 83,651 shares of the financial services provider’s stock worth $459,000 after acquiring an additional 1,869 shares in the last quarter. Magnus Financial Group LLC lifted 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 during the last quarter. Evernest Financial Advisors LLC boosted its holdings 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 worth $546,000 after purchasing an additional 2,663 shares during the period. Brookstone Capital Management increased its position in shares of The Gabelli Equity Trust by 5.1% during the 2nd quarter. Brookstone Capital Management now owns 56,612 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 2,759 shares during the last quarter. Finally, IFG Advisory LLC raised its holdings in The Gabelli Equity Trust by 11.7% during the 2nd quarter. IFG Advisory LLC now owns 31,486 shares of the financial services provider’s stock valued at $164,000 after buying an additional 3,300 shares during the period. 7.24% of the stock is owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Stock Performance

Shares of GAB opened at $5.75 on Tuesday. The business has a fifty day moving average of $5.47 and a 200 day moving average of $5.43. The Gabelli Equity Trust Inc. has a 52-week low of $4.96 and a 52-week high of $5.78.

The Gabelli Equity Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.44%.

About The Gabelli Equity Trust

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.