Wealth Enhancement Advisory Services LLC grew its holdings in shares of The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) by 60.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 140,181 shares of the financial services provider's stock after acquiring an additional 52,691 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in The Gabelli Equity Trust were worth $754,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kentucky Trust Co bought a new stake in The Gabelli Equity Trust in the fourth quarter valued at $40,000. Bank of Montreal Can bought a new stake in shares of The Gabelli Equity Trust during the 4th quarter valued at $56,000. Strategic Financial Concepts LLC bought a new stake in shares of The Gabelli Equity Trust during the 4th quarter valued at $58,000. Elequin Capital LP bought a new position in The Gabelli Equity Trust in the 4th quarter worth about $69,000. Finally, MTM Investment Management LLC bought a new position in The Gabelli Equity Trust in the 4th quarter worth about $73,000. Institutional investors own 7.24% of the company's stock.
The Gabelli Equity Trust Price Performance
NYSE:GAB traded down $0.26 during mid-day trading on Friday, reaching $5.61. The company's stock had a trading volume of 1,226,941 shares, compared to its average volume of 578,723. The Gabelli Equity Trust Inc. has a 12-month low of $4.50 and a 12-month high of $5.90. The firm's fifty day moving average price is $5.57 and its two-hundred day moving average price is $5.53.
The Gabelli Equity Trust Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.70%. The ex-dividend date is Friday, June 13th.
The 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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