Wolverine Asset Management LLC Takes Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Wolverine Asset Management LLC purchased a new position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 206,750 shares of the financial services provider's stock, valued at approximately $1,050,000. Wolverine Asset Management LLC owned 0.07% of The Gabelli Equity Trust as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in GAB. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of The Gabelli Equity Trust in the 3rd quarter valued at about $52,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of The Gabelli Equity Trust during the 3rd quarter worth approximately $69,000. CoreCap Advisors LLC lifted its position in shares of The Gabelli Equity Trust by 26.9% during the 4th quarter. CoreCap Advisors LLC now owns 13,491 shares of the financial services provider's stock valued at $69,000 after buying an additional 2,858 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in The Gabelli Equity Trust in the 4th quarter valued at $75,000. Finally, Cerity Partners LLC grew its stake in The Gabelli Equity Trust by 21.4% in the 4th quarter. Cerity Partners LLC now owns 14,979 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 2,641 shares during the period. Hedge funds and other institutional investors own 7.24% of the company's stock.

Insider Activity at The Gabelli Equity Trust

In other news, insider Mario J. Gabelli purchased 10,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were purchased at an average price of $100.00 per share, with a total value of $1,000,000.00. Following the transaction, the insider now owns 10,000 shares in the company, valued at approximately $1,000,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.90% of the company's stock.

The Gabelli Equity Trust Stock Performance

NYSE:GAB traded up $0.01 during trading hours on Friday, reaching $5.31. 194,346 shares of the company were exchanged, compared to its average volume of 603,125. The stock's 50-day moving average is $5.41 and its 200-day moving average is $5.17. The Gabelli Equity Trust Inc. has a twelve month low of $4.56 and a twelve month high of $5.88.

The Gabelli Equity Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 14th were issued a $0.15 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.60 dividend on an annualized basis and a yield of 11.30%.

About The Gabelli Equity Trust

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.