The Gabelli Equity Trust Inc. (NYSE:GAB) Shares Acquired by IFG Advisory LLC

IFG Advisory LLC lifted its stake in The Gabelli Equity Trust Inc. (NYSE:GAB) by 11.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,486 shares of the financial services provider’s stock after acquiring an additional 3,300 shares during the quarter. IFG Advisory LLC’s holdings in The Gabelli Equity Trust were worth $164,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Steward Partners Investment Solutions LLC purchased a new stake in The Gabelli Equity Trust in the fourth quarter valued at approximately $27,000. Concourse Financial Group Securities Inc. grew its stake in shares of The Gabelli Equity Trust by 252.9% in the second quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider’s stock valued at $31,000 after buying an additional 4,300 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of The Gabelli Equity Trust in the 2nd quarter valued at $31,000. ICA Group Wealth Management LLC acquired a new position in The Gabelli Equity Trust during the 4th quarter worth about $32,000. Finally, CreativeOne Wealth LLC purchased a new position in The Gabelli Equity Trust during the 1st quarter valued at about $56,000. Hedge funds and other institutional investors own 7.24% of the company’s stock.

Insider Buying and Selling

In other The Gabelli Equity Trust news, insider Mario J. Gabelli purchased 11,750 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average price of $100.00 per share, with a total value of $1,175,000.00. Following the transaction, the insider now directly owns 16,750 shares of the company’s stock, valued at approximately $1,675,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by insiders.

The Gabelli Equity Trust Stock Up 0.9 %

NYSE GAB opened at $5.60 on Tuesday. The stock has a 50-day moving average of $5.36 and a two-hundred day moving average of $5.40. The Gabelli Equity Trust Inc. has a 1-year low of $4.56 and a 1-year high of $5.74.

The Gabelli Equity Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 16th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.71%. The ex-dividend date is Monday, September 16th.

The 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.