Janney Montgomery Scott LLC grew its position in shares of Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 93.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,210 shares of the financial services provider's stock after buying an additional 66,772 shares during the period. Janney Montgomery Scott LLC's holdings in Gabelli Equity Trust were worth $762,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of GAB. Beacon Pointe Advisors LLC lifted its position in shares of Gabelli Equity Trust by 7.1% during the 4th quarter. Beacon Pointe Advisors LLC now owns 30,000 shares of the financial services provider's stock valued at $161,000 after acquiring an additional 2,000 shares during the period. Arete Wealth Advisors LLC raised its stake in Gabelli Equity Trust by 30.2% in the fourth quarter. Arete Wealth Advisors LLC now owns 20,280 shares of the financial services provider's stock valued at $109,000 after purchasing an additional 4,707 shares in the last quarter. Bank of Montreal Can bought a new stake in Gabelli Equity Trust during the fourth quarter worth about $56,000. Thrivent Financial for Lutherans grew its stake in Gabelli Equity Trust by 7.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 174,692 shares of the financial services provider's stock worth $940,000 after buying an additional 11,472 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Gabelli Equity Trust by 0.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,903,700 shares of the financial services provider's stock valued at $10,242,000 after buying an additional 12,503 shares during the period. Institutional investors and hedge funds own 7.24% of the company's stock.
Gabelli Equity Trust Price Performance
Shares of NYSE:GAB traded up $0.02 during midday trading on Wednesday, hitting $5.88. The stock had a trading volume of 537,043 shares, compared to its average volume of 570,216. The company's 50-day moving average price is $5.68 and its 200-day moving average price 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 Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 13th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 10.20%. The ex-dividend date of this dividend was Friday, June 13th.
Gabelli Equity Trust Profile
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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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