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Gabelli Equity Trust Inc. (NYSE:GAB) Shares Purchased by Janney Montgomery Scott LLC

Gabelli Equity Trust logo with Finance background

Janney Montgomery Scott LLC boosted its position in Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 93.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,210 shares of the financial services provider's stock after buying an additional 66,772 shares during the quarter. Janney Montgomery Scott LLC's holdings in Gabelli Equity Trust were worth $762,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Leigh Baldwin & CO. LLC bought a new stake in Gabelli Equity Trust in the fourth quarter valued at about $463,000. Steward Partners Investment Advisory LLC boosted its stake in Gabelli Equity Trust by 30.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 223,420 shares of the financial services provider's stock valued at $1,202,000 after acquiring an additional 52,800 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Gabelli Equity Trust by 60.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 140,181 shares of the financial services provider's stock valued at $754,000 after acquiring an additional 52,691 shares during the period. Raymond James Financial Inc. acquired a new position in Gabelli Equity Trust in the fourth quarter valued at approximately $2,614,000. Finally, Independent Advisor Alliance acquired a new position in Gabelli Equity Trust in the fourth quarter valued at approximately $1,978,000. 7.24% of the stock is owned by institutional investors.

Gabelli Equity Trust Stock Performance

GAB stock traded up $0.03 during midday trading on Friday, reaching $5.93. The company had a trading volume of 501,039 shares, compared to its average volume of 570,949. The stock has a 50 day moving average price of $5.72 and a 200 day moving average price of $5.54. Gabelli Equity Trust Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $5.94.

Gabelli Equity Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 10.12%.

Gabelli Equity Trust Company Profile

(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.

See Also

Institutional Ownership by Quarter for Gabelli Equity Trust (NYSE:GAB)

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