IMC Chicago LLC acquired a new stake in Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth Retirement Investments LLC acquired a new stake in shares of Gabelli Equity Trust during the 4th quarter valued at about $30,000. Geneos Wealth Management Inc. raised its position in Gabelli Equity Trust by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 5,100 shares of the financial services provider's stock worth $30,000 after purchasing an additional 3,400 shares in the last quarter. Larson Financial Group LLC acquired a new position in Gabelli Equity Trust in the third quarter worth about $34,000. PNC Financial Services Group Inc. bought a new position in Gabelli Equity Trust during the first quarter worth about $33,000. Finally, Hilton Head Capital Partners LLC bought a new position in Gabelli Equity Trust during the fourth quarter worth about $42,000. 7.24% of the stock is owned by institutional investors.
Gabelli Equity Trust Stock Down 0.9%
NYSE GAB opened at $5.66 on Friday. The stock's 50 day moving average is $5.67 and its two-hundred day moving average is $5.70. Gabelli Equity Trust Inc. has a 1-year low of $5.28 and a 1-year high of $6.37.
Gabelli Equity Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.6%. The ex-dividend date is Wednesday, September 16th.
Gabelli Equity Trust Company Profile
(
Free Report)
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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