Janney Montgomery Scott LLC Boosts Stock Holdings in The Gabelli Equity Trust Inc. (NYSE:GAB)

Janney Montgomery Scott LLC raised its holdings in shares of The Gabelli Equity Trust Inc. (NYSE:GAB – Get Rating) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,464 shares of the financial services provider’s stock after buying an additional 3,022 shares during the period. Janney Montgomery Scott LLC’s holdings in The Gabelli Equity Trust were worth $459,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GAB. Envestnet Asset Management Inc. purchased a new stake in shares of The Gabelli Equity Trust during the first quarter worth about $167,000. Raymond James & Associates boosted its holdings in shares of The Gabelli Equity Trust by 3.1% during the first quarter. Raymond James & Associates now owns 224,867 shares of the financial services provider’s stock worth $1,558,000 after purchasing an additional 6,793 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of The Gabelli Equity Trust by 8.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 243,624 shares of the financial services provider’s stock worth $1,688,000 after purchasing an additional 19,154 shares during the period. US Bancorp DE boosted its holdings in shares of The Gabelli Equity Trust by 29.4% during the first quarter. US Bancorp DE now owns 30,092 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 6,828 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in shares of The Gabelli Equity Trust by 14.1% during the first quarter. Cetera Investment Advisers now owns 106,420 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 13,183 shares during the period. 7.58% of the stock is currently owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Trading Up 0.9 %

The Gabelli Equity Trust stock opened at $5.72 on Tuesday. The Gabelli Equity Trust Inc. has a 1-year low of $4.84 and a 1-year high of $7.18. The firm has a 50-day moving average of $5.72 and a 200-day moving average of $5.82.

The Gabelli Equity Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 9th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $0.60 annualized dividend and a yield of 10.49%.

About The Gabelli Equity Trust

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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.