Citadel Advisors LLC Purchases Shares of 25,801 The Gabelli Equity Trust Inc. (NYSE:GAB)

Citadel Advisors LLC purchased a new position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 25,801 shares of the financial services provider’s stock, valued at approximately $139,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Beacon Pointe Advisors LLC lifted its holdings in The Gabelli Equity Trust by 7.1% in the 4th quarter. Beacon Pointe Advisors LLC now owns 30,000 shares of the financial services provider’s stock worth $161,000 after buying an additional 2,000 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of The Gabelli Equity Trust by 31.2% during the fourth quarter. Apollon Wealth Management LLC now owns 15,170 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 3,605 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of The Gabelli Equity Trust by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 95,076 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 4,512 shares in the last quarter. Arete Wealth Advisors LLC lifted its stake in shares of The Gabelli Equity Trust by 30.2% in the fourth quarter. Arete Wealth Advisors LLC now owns 20,280 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 4,707 shares in the last quarter. Finally, Kentucky Trust Co purchased a new position in The Gabelli Equity Trust in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Performance

Shares of NYSE GAB opened at $5.83 on Monday. The Gabelli Equity Trust Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $5.85. The business has a 50 day moving average price of $5.51 and a two-hundred day moving average price of $5.53.

The Gabelli Equity Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 13th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.30%. The ex-dividend date of this dividend is Friday, June 13th.

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.