Gabelli Equity Trust Inc. $GAB Shares Newly Acquired by Sowell Financial Services LLC

Sowell Financial Services LLC purchased a new position in shares of Gabelli Equity Trust Inc. (NYSE:GAB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 152,588 shares of the financial services provider’s stock, valued at approximately $800,000.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. acquired a new position in shares of Gabelli Equity Trust in the 1st quarter valued at approximately $33,000. Integrated Wealth Concepts LLC acquired a new stake in Gabelli Equity Trust during the 2nd quarter worth approximately $36,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Gabelli Equity Trust during the 2nd quarter worth approximately $44,000. Valeo Financial Advisors LLC acquired a new stake in Gabelli Equity Trust during the 3rd quarter worth approximately $53,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Gabelli Equity Trust in the second quarter valued at approximately $57,000. Institutional investors own 7.24% of the company’s stock.

Gabelli Equity Trust Stock Down 2.4%

Shares of GAB opened at $5.09 on Friday. Gabelli Equity Trust Inc. has a twelve month low of $5.09 and a twelve month high of $6.37. The firm’s 50 day moving average price is $5.43 and its two-hundred day moving average price is $5.55.

Gabelli Equity Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.8%. The ex-dividend date was Wednesday, September 16th.

Gabelli Equity Trust Profile

Gabelli Equity Trust Inc (NYSE: GAB) is a diversified, closed-end management investment company. The fund seeks long-term growth of capital, with income as a secondary objective, by investing primarily in a portfolio of common stocks and other equity securities.

The fund uses a value-oriented investment approach associated with Gabelli Funds, LLC, its investment adviser. Its portfolio may include companies across a range of industries and can contain both U.S. and international investments, providing shareholders with exposure to established and growth-oriented businesses in multiple sectors and geographies.

Gabelli Equity Trust was organized in 1986 and is managed by Gabelli Funds, an affiliate of GAMCO Investors.