Gabelli Equity Trust Inc. $GAB Position Increased by Truist Financial Corp

Truist Financial Corp increased its position in shares of Gabelli Equity Trust Inc. (NYSE:GAB) by 722.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,371 shares of the financial services provider’s stock after acquiring an additional 151,416 shares during the period. Truist Financial Corp’s holdings in Gabelli Equity Trust were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GAB. Focus Partners Wealth purchased a new stake in shares of Gabelli Equity Trust during the first quarter worth $121,000. Baird Financial Group Inc. raised its holdings in shares of Gabelli Equity Trust by 6.5% during the second quarter. Baird Financial Group Inc. now owns 32,548 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 2,000 shares in the last quarter. StoneX Group Inc. purchased a new stake in shares of Gabelli Equity Trust during the second quarter worth $79,000. Cerity Partners LLC raised its holdings in shares of Gabelli Equity Trust by 29.1% during the second quarter. Cerity Partners LLC now owns 306,890 shares of the financial services provider’s stock worth $1,786,000 after acquiring an additional 69,237 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Gabelli Equity Trust by 8.1% during the second quarter. Raymond James Financial Inc. now owns 554,382 shares of the financial services provider’s stock worth $3,227,000 after acquiring an additional 41,437 shares in the last quarter. 7.24% of the stock is currently owned by hedge funds and other institutional investors.

Gabelli Equity Trust Trading Down 1.0%

Shares of NYSE:GAB opened at $5.55 on Friday. Gabelli Equity Trust Inc. has a 1 year low of $5.28 and a 1 year high of $6.37. The business has a fifty day simple moving average of $5.61 and a 200 day simple moving average of $5.95.

Gabelli Equity Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Monday, June 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.8%. The ex-dividend date is Monday, June 15th.

About Gabelli Equity Trust

Gabelli Equity Trust, Inc (NYSE: GAB) is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.