Wealth Enhancement Advisory Services LLC Has $853,000 Stock Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Wealth Enhancement Advisory Services LLC boosted its holdings in The Gabelli Equity Trust Inc. (NYSE:GAB) by 77.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 155,379 shares of the financial services provider’s stock after purchasing an additional 67,889 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in The Gabelli Equity Trust were worth $853,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of GAB. CNB Bank acquired a new stake in shares of The Gabelli Equity Trust in the third quarter worth $38,000. Triton Wealth Management PLLC acquired a new stake in The Gabelli Equity Trust in the 3rd quarter worth $60,000. Meridian Wealth Management LLC acquired a new stake in The Gabelli Equity Trust in the 3rd quarter worth $75,000. Executive Wealth Management LLC bought a new position in shares of The Gabelli Equity Trust during the 3rd quarter worth about $82,000. Finally, Arete Wealth Advisors LLC acquired a new position in shares of The Gabelli Equity Trust during the third quarter valued at about $85,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Equity Trust Trading Up 1.9 %

NYSE GAB opened at $5.46 on Thursday. The Gabelli Equity Trust Inc. has a twelve month low of $4.98 and a twelve month high of $5.85. The firm has a 50-day simple moving average of $5.56 and a 200 day simple moving average of $5.46.

The Gabelli Equity Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.99%.

The Gabelli Equity Trust 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.