HighTower Advisors LLC Purchases 9,914 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

HighTower Advisors LLC boosted its position in The Gabelli Equity Trust Inc. (NYSE:GAB) by 13.3% during the third quarter, HoldingsChannel reports. The fund owned 84,531 shares of the financial services provider’s stock after buying an additional 9,914 shares during the quarter. HighTower Advisors LLC’s holdings in The Gabelli Equity Trust were worth $462,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. PFG Investments LLC lifted its position in shares of The Gabelli Equity Trust by 2.3% during the third quarter. PFG Investments LLC now owns 83,651 shares of the financial services provider’s stock worth $459,000 after acquiring an additional 1,869 shares in the last quarter. Magnus Financial Group LLC lifted its holdings in The Gabelli Equity Trust by 2.7% during the 2nd quarter. Magnus Financial Group LLC now owns 78,166 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 2,063 shares in the last quarter. Evernest Financial Advisors LLC lifted its holdings in The Gabelli Equity Trust by 2.8% during the 3rd quarter. Evernest Financial Advisors LLC now owns 99,398 shares of the financial services provider’s stock worth $546,000 after purchasing an additional 2,663 shares in the last quarter. IFG Advisory LLC boosted its stake in The Gabelli Equity Trust by 11.7% in the 2nd quarter. IFG Advisory LLC now owns 31,486 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 3,300 shares during the period. Finally, Concourse Financial Group Securities Inc. grew its holdings in The Gabelli Equity Trust by 252.9% during the 2nd 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. 7.24% of the stock is owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Trading Up 2.6 %

Shares of GAB opened at $5.50 on Friday. The business’s 50-day moving average price is $5.57 and its 200-day moving average price is $5.46. The Gabelli Equity Trust Inc. has a twelve month low of $4.96 and a twelve month high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 10.91%. The ex-dividend date was Friday, December 13th.

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.