J.W. Cole Advisors Inc. Raises Stock Position in Gabelli Equity Trust Inc. (NYSE:GAB)

J.W. Cole Advisors Inc. increased its stake in Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 3,654.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 720,307 shares of the financial services provider's stock after acquiring an additional 701,120 shares during the quarter. J.W. Cole Advisors Inc. owned approximately 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 made changes to their positions in GAB. LPL Financial LLC raised its position in Gabelli Equity Trust by 28.3% in the fourth quarter. LPL Financial LLC now owns 3,520,427 shares of the financial services provider's stock valued at $18,940,000 after purchasing an additional 776,591 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Gabelli Equity Trust by 90.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,037,271 shares of the financial services provider's stock valued at $5,715,000 after buying an additional 493,510 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Gabelli Equity Trust in the 4th quarter valued at $2,614,000. Guggenheim Capital LLC raised its holdings in shares of Gabelli Equity Trust by 162.6% in the 4th quarter. Guggenheim Capital LLC now owns 167,494 shares of the financial services provider's stock valued at $901,000 after buying an additional 103,719 shares during the period. Finally, Leigh Baldwin & CO. LLC purchased a new stake in Gabelli Equity Trust during the 4th quarter worth about $463,000. 7.24% of the stock is owned by institutional investors and hedge funds.

Gabelli Equity Trust Stock Up 0.7%

GAB opened at $5.93 on Monday. The business has a 50 day moving average price of $5.79 and a two-hundred day moving average price of $5.57. Gabelli Equity Trust Inc. has a 52 week low of $4.50 and a 52 week high of $5.95.

Gabelli Equity Trust Dividend Announcement

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

Gabelli Equity Trust Company Profile

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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