Flynn Zito Capital Management LLC Purchases 62,951 Shares of Gabelli Equity Trust Inc. (NYSE:GAB)

Flynn Zito Capital Management LLC grew its position in shares of Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 243.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in GAB. Bank of Montreal Can acquired a new stake in shares of Gabelli Equity Trust during the 4th quarter worth about $56,000. Novem Group purchased a new position in Gabelli Equity Trust in the first quarter valued at approximately $58,000. Elequin Capital LP purchased a new position in Gabelli Equity Trust in the fourth quarter valued at approximately $69,000. Sagespring Wealth Partners LLC purchased a new position in Gabelli Equity Trust in the first quarter valued at approximately $74,000. Finally, Cornerstone Advisory LLC purchased a new stake in shares of Gabelli Equity Trust during the fourth quarter valued at approximately $97,000. Hedge funds and other institutional investors own 7.24% of the company's stock.

Gabelli Equity Trust Trading Down 0.3%

Shares of GAB traded down $0.02 during mid-day trading on Friday, reaching $5.93. 155,112 shares of the stock traded hands, compared to its average volume of 542,132. The stock has a fifty day simple moving average of $5.80 and a 200 day simple moving average of $5.59. Gabelli Equity Trust Inc. has a 12-month low of $4.50 and a 12-month high of $5.97.

Gabelli Equity Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.13%.

About 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.