485,966 Shares in The Gabelli Equity Trust Inc. (NYSE:GAB) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 485,966 shares of the financial services provider’s stock, valued at approximately $2,614,000. Raymond James Financial Inc. owned 0.16% of The Gabelli Equity Trust as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of The Gabelli Equity Trust by 77.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 155,379 shares of the financial services provider’s stock valued at $853,000 after acquiring an additional 67,889 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of The Gabelli Equity Trust by 30.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 223,420 shares of the financial services provider’s stock worth $1,202,000 after acquiring an additional 52,800 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of The Gabelli Equity Trust by 13.3% in the 3rd quarter. HighTower Advisors LLC now owns 84,531 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 9,914 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of The Gabelli Equity Trust during the fourth quarter valued at approximately $58,000. Finally, Kera Capital Partners Inc. purchased a new position in The Gabelli Equity Trust during the 4th quarter valued at about $569,000. 7.24% of the stock is currently owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Stock Down 0.8 %

NYSE:GAB opened at $5.50 on Friday. The Gabelli Equity Trust Inc. has a 12 month low of $5.09 and a 12 month high of $5.85. The company has a 50-day moving average price of $5.54 and a 200-day moving average price of $5.52.

The Gabelli Equity Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 10.92%. The ex-dividend date was Monday, March 17th.

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.