Flynn Zito Capital Management LLC Increases Holdings in Gabelli Equity Trust Inc. (NYSE:GAB)

Flynn Zito Capital Management LLC lifted its holdings in shares of Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 243.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,806 shares of the financial services provider's stock after buying an additional 62,951 shares during the quarter. Flynn Zito Capital Management LLC's holdings in Gabelli Equity Trust were worth $489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. LPL Financial LLC raised its position in shares of Gabelli Equity Trust by 28.3% during the 4th quarter. LPL Financial LLC now owns 3,520,427 shares of the financial services provider's stock valued at $18,940,000 after buying an additional 776,591 shares in the last quarter. Golden State Wealth Management LLC raised its position in Gabelli Equity Trust by 90.8% during the first quarter. Golden State Wealth Management LLC now owns 1,037,271 shares of the financial services provider's stock valued at $5,715,000 after purchasing an additional 493,510 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in Gabelli Equity Trust by 3,654.1% during the first quarter. J.W. Cole Advisors Inc. now owns 720,307 shares of the financial services provider's stock worth $3,969,000 after purchasing an additional 701,120 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Gabelli Equity Trust by 3.2% in the 4th quarter. Cetera Investment Advisers now owns 505,444 shares of the financial services provider's stock worth $2,719,000 after purchasing an additional 15,690 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Gabelli Equity Trust during the 4th quarter valued at about $2,614,000. 7.24% of the stock is owned by institutional investors.

Gabelli Equity Trust Stock Up 0.4%

Shares of GAB stock traded up $0.03 during midday trading on Tuesday, reaching $5.92. 324,103 shares of the stock were exchanged, compared to its average volume of 565,730. Gabelli Equity Trust Inc. has a 1 year low of $4.50 and a 1 year high of $5.95. The company's 50 day moving average is $5.79 and its two-hundred day moving average is $5.57.

Gabelli Equity Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 13th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 10.14%.

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.