J.W. Cole Advisors Inc. increased its position in shares of Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 3,654.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 720,307 shares of the financial services provider's stock after buying an additional 701,120 shares during the period. J.W. Cole Advisors Inc. owned about 0.23% of Gabelli Equity Trust worth $3,969,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Beacon Pointe Advisors LLC increased its position in Gabelli Equity Trust by 7.1% in 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. PFG Investments LLC increased its stake in shares of Gabelli Equity Trust by 3.5% during the first quarter. PFG Investments LLC now owns 86,549 shares of the financial services provider's stock valued at $477,000 after acquiring an additional 2,928 shares during the period. Arete Wealth Advisors LLC lifted its position 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 worth $109,000 after purchasing an additional 4,707 shares during the period. Bank of Montreal Can acquired a new position in shares of Gabelli Equity Trust during the 4th quarter valued at $56,000. Finally, Novem Group bought a new stake in shares of Gabelli Equity Trust in the 1st quarter worth $58,000. Institutional investors and hedge funds own 7.24% of the company's stock.
Gabelli Equity Trust Stock Up 0.4%
Shares of NYSE GAB traded up $0.03 during midday trading on Thursday, reaching $5.95. The company's stock had a trading volume of 234,573 shares, compared to its average volume of 543,640. Gabelli Equity Trust Inc. has a one year low of $4.50 and a one year high of $5.97. The company has a 50 day moving average price of $5.80 and a 200 day moving average price of $5.58.
Gabelli Equity Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 13th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.09%. The ex-dividend date was Friday, June 13th.
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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