National Asset Management Inc. grew its stake in shares of Gabelli Equity Trust Inc (NYSE:GAB) by 58.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,788 shares of the financial services provider’s stock after acquiring an additional 7,667 shares during the quarter. National Asset Management Inc.’s holdings in Gabelli Equity Trust were worth $129,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Bartlett & Co. LLC bought a new position in shares of Gabelli Equity Trust during the second quarter valued at $61,000. Monroe Bank & Trust MI bought a new position in shares of Gabelli Equity Trust during the first quarter valued at $73,000. Mid Atlantic Financial Management Inc. ADV increased its holdings in shares of Gabelli Equity Trust by 19.9% during the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 16,500 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 2,740 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Gabelli Equity Trust by 24.2% during the second quarter. Janney Montgomery Scott LLC now owns 16,427 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 3,205 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Gabelli Equity Trust during the first quarter valued at $106,000. Hedge funds and other institutional investors own 6.07% of the company’s stock.
Shares of Gabelli Equity Trust stock traded down $0.01 during trading on Wednesday, hitting $5.95. 1,172 shares of the company’s stock traded hands, compared to its average volume of 686,707. Gabelli Equity Trust Inc has a 1 year low of $4.75 and a 1 year high of $6.64. The business has a 50-day simple moving average of $6.09 and a 200-day simple moving average of $6.13.
In related news, Director James P. Conn sold 29,001 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $5.98, for a total transaction of $173,425.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.
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.
Featured Article: Market Perform
Receive News & Ratings for Gabelli Equity Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gabelli Equity Trust and related companies with MarketBeat.com's FREE daily email newsletter.