The Gabelli Equity Trust Inc. (NYSE:GAB) Shares Bought by Financial Counselors Inc.

Financial Counselors Inc. lifted its position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 374.5% during the third quarter, HoldingsChannel reports. The fund owned 54,395 shares of the financial services provider’s stock after acquiring an additional 42,931 shares during the quarter. Financial Counselors Inc.’s holdings in The Gabelli Equity Trust were worth $299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GAB. Shaker Financial Services LLC boosted its holdings in The Gabelli Equity Trust by 413.3% in the 3rd quarter. Shaker Financial Services LLC now owns 652,653 shares of the financial services provider’s stock valued at $3,583,000 after purchasing an additional 525,502 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new stake in shares of The Gabelli Equity Trust in the third quarter valued at approximately $648,000. International Assets Investment Management LLC grew its holdings in The Gabelli Equity Trust by 466.5% during the third quarter. International Assets Investment Management LLC now owns 2,301,030 shares of the financial services provider’s stock worth $12,633,000 after acquiring an additional 1,894,854 shares during the period. Cetera Investment Advisers grew its holdings in The Gabelli Equity Trust by 1,196.4% during the first quarter. Cetera Investment Advisers now owns 449,417 shares of the financial services provider’s stock worth $2,481,000 after acquiring an additional 414,751 shares during the period. Finally, Wolverine Asset Management LLC raised its position in The Gabelli Equity Trust by 435.6% in the third quarter. Wolverine Asset Management LLC now owns 121,044 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 98,444 shares in the last quarter. 7.24% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Equity Trust Stock Performance

Shares of NYSE GAB opened at $5.79 on Friday. The Gabelli Equity Trust Inc. has a one year low of $4.96 and a one year high of $5.81. The company’s fifty day moving average is $5.50 and its two-hundred day moving average is $5.44.

The Gabelli Equity Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, December 13th. This represents a $0.60 annualized dividend and a yield of 10.36%.

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.