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

Flynn Zito Capital Management LLC lifted its stake in Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 243.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,806 shares of the financial services provider's stock after purchasing an additional 62,951 shares during the period. 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 large investors have also recently bought and sold shares of the company. J.W. Cole Advisors Inc. grew its holdings in Gabelli Equity Trust by 3,654.1% during the 1st quarter. J.W. Cole Advisors Inc. now owns 720,307 shares of the financial services provider's stock worth $3,969,000 after acquiring an additional 701,120 shares during the period. Private Advisor Group LLC grew its stake in shares of Gabelli Equity Trust by 16.5% during the first quarter. Private Advisor Group LLC now owns 188,848 shares of the financial services provider's stock worth $1,041,000 after purchasing an additional 26,708 shares during the period. Novem Group bought a new stake in Gabelli Equity Trust in the first quarter valued at about $58,000. Golden State Wealth Management LLC increased its holdings in Gabelli Equity Trust by 90.8% in 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 during the last quarter. Finally, Consolidated Portfolio Review Corp lifted its stake in Gabelli Equity Trust by 11.3% in the first quarter. Consolidated Portfolio Review Corp now owns 136,767 shares of the financial services provider's stock valued at $754,000 after buying an additional 13,928 shares during the period. Institutional investors and hedge funds own 7.24% of the company's stock.

Gabelli Equity Trust Price Performance

Shares of GAB traded down $0.01 during trading hours on Wednesday, reaching $5.93. The stock had a trading volume of 521,428 shares, compared to its average volume of 565,554. Gabelli Equity Trust Inc. has a 52 week low of $4.50 and a 52 week high of $5.95. The firm has a 50-day moving average of $5.79 and a 200 day moving average of $5.58.

Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 13th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.60 annualized dividend and a 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.