146,035 Shares in The Gabelli Equity Trust Inc. (NYSE:GAB) Bought by Private Advisor Group LLC

Private Advisor Group LLC acquired a new stake in The Gabelli Equity Trust Inc. (NYSE:GAB) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 146,035 shares of the financial services provider’s stock, valued at approximately $838,000.

A number of other large investors also recently bought and sold shares of GAB. Envestnet Asset Management Inc. purchased a new position in shares of The Gabelli Equity Trust during the 1st quarter worth approximately $167,000. Raymond James & Associates raised its position in The Gabelli Equity Trust by 3.1% in the first quarter. Raymond James & Associates now owns 224,867 shares of the financial services provider’s stock worth $1,558,000 after acquiring an additional 6,793 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of The Gabelli Equity Trust by 8.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 243,624 shares of the financial services provider’s stock worth $1,688,000 after purchasing an additional 19,154 shares in the last quarter. US Bancorp DE grew its stake in shares of The Gabelli Equity Trust by 29.4% during the 1st quarter. US Bancorp DE now owns 30,092 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 6,828 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of The Gabelli Equity Trust by 14.1% in the 1st quarter. Cetera Investment Advisers now owns 106,420 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 13,183 shares in the last quarter. Hedge funds and other institutional investors own 6.86% of the company’s stock.

The Gabelli Equity Trust Price Performance

GAB stock opened at $5.49 on Thursday. The company’s 50-day moving average price is $5.61 and its 200 day moving average price is $5.63. The Gabelli Equity Trust Inc. has a 52 week low of $4.84 and a 52 week high of $6.57.

The Gabelli Equity Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.93%. The ex-dividend date of this dividend is Thursday, September 14th.

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.