IMC Chicago LLC Acquires New Stake in Gabelli Equity Trust Inc. $GAB

Key Points

• IMC Chicago LLC acquired 183,328 shares of Gabelli Equity Trust during the second quarter, worth approximately $1.04 million and representing about 0.06% of the company.
• Several institutional investors recently increased or initiated positions in Gabelli Equity Trust, with institutional investors and hedge funds collectively owning 7.24% of the stock.
• Gabelli Equity Trust shares opened at $5.80, while the company announced a quarterly dividend of $0.15 per share, equivalent to an annualized yield of approximately 10.3%.

IMC Chicago LLC acquired a new position in shares of Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 183,328 shares of the financial services provider's stock, valued at approximately $1,038,000. IMC Chicago LLC owned approximately 0.06% of Gabelli Equity Trust at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp grew its stake in Gabelli Equity Trust by 722.6% in the 4th quarter. Truist Financial Corp now owns 172,371 shares of the financial services provider's stock worth $1,064,000 after acquiring an additional 151,416 shares during the period. Kiley Juergens Wealth Management LLC acquired a new position in Gabelli Equity Trust in the 1st quarter valued at $73,000. Silver Oak Securities Incorporated lifted its stake in shares of Gabelli Equity Trust by 16.5% during the 1st quarter. Silver Oak Securities Incorporated now owns 19,808 shares of the financial services provider's stock worth $111,000 after purchasing an additional 2,801 shares during the period. Zinnia Wealth Advisory LLC purchased a new position in shares of Gabelli Equity Trust during the 4th quarter worth $388,000. Finally, Commonwealth Retirement Investments LLC acquired a new stake in shares of Gabelli Equity Trust during the fourth quarter worth $30,000. Institutional investors and hedge funds own 7.24% of the company's stock.

Gabelli Equity Trust Trading Up 0.1%

Gabelli Equity Trust stock opened at $5.80 on Monday. The stock has a fifty day moving average price of $5.63 and a 200 day moving average price of $5.73. Gabelli Equity Trust Inc. has a 52 week low of $5.28 and a 52 week high of $6.37.

Gabelli Equity Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.3%.

Gabelli Equity Trust Profile

Gabelli Equity Trust, Inc NYSE: GAB is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.

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