59,822 Shares in The Gabelli Equity Trust Inc. (NYSE:GAB) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC acquired a new position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 59,822 shares of the financial services provider’s stock, valued at approximately $304,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. J.P. Morgan Private Wealth Advisors LLC purchased a new position in The Gabelli Equity Trust during the 3rd quarter worth approximately $52,000. Envestnet Portfolio Solutions Inc. acquired a new stake in The Gabelli Equity Trust in the third quarter valued at about $69,000. CoreCap Advisors LLC boosted its holdings in The Gabelli Equity Trust by 26.9% in the 4th quarter. CoreCap Advisors LLC now owns 13,491 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 2,858 shares in the last quarter. Capital Investment Advisors LLC acquired a new position in The Gabelli Equity Trust during the 4th quarter worth approximately $101,000. Finally, Kingsview Wealth Management LLC purchased a new position in shares of The Gabelli Equity Trust during the 3rd quarter worth approximately $130,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

Insider Buying and Selling at The Gabelli Equity Trust

In related news, insider Mario J. Gabelli acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average price of $100.00 per share, for a total transaction of $1,000,000.00. Following the transaction, the insider now owns 10,000 shares in the company, valued at approximately $1,000,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by insiders.

The Gabelli Equity Trust Stock Performance

Shares of NYSE GAB opened at $5.31 on Friday. The Gabelli Equity Trust Inc. has a 52 week low of $4.56 and a 52 week high of $5.88. The firm has a 50-day moving average price of $5.41 and a 200 day moving average price of $5.17.

The Gabelli Equity Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 14th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 11.31%. The ex-dividend date of this dividend was Wednesday, March 13th.

The 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.