Golden State Wealth Management LLC lifted its holdings in shares of Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 90.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,037,271 shares of the financial services provider's stock after purchasing an additional 493,510 shares during the quarter. Golden State Wealth Management LLC owned approximately 0.34% of Gabelli Equity Trust worth $5,715,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Bank of Montreal Can acquired a new position in Gabelli Equity Trust during the fourth quarter worth $56,000. Elequin Capital LP acquired a new position in shares of Gabelli Equity Trust during the 4th quarter valued at about $69,000. Sagespring Wealth Partners LLC acquired a new position in shares of Gabelli Equity Trust during the 1st quarter valued at about $74,000. Cornerstone Advisory LLC bought a new position in shares of Gabelli Equity Trust in the 4th quarter valued at approximately $97,000. Finally, Chancellor Financial Group WB LP acquired a new stake in Gabelli Equity Trust in the 4th quarter worth approximately $99,000. Institutional investors and hedge funds own 7.24% of the company's stock.
Gabelli Equity Trust Trading Up 0.4%
Shares of NYSE:GAB traded up $0.03 during midday trading on Thursday, hitting $5.76. The company's stock had a trading volume of 392,275 shares, compared to its average volume of 573,587. The stock's 50 day simple moving average is $5.64 and its 200 day simple moving average is $5.53. Gabelli Equity Trust Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $5.90.
Gabelli Equity Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 13th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 10.43%.
About Gabelli Equity Trust
(
Free Report)
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.
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