Arete Wealth Advisors LLC Acquires New Holdings in The Gabelli Equity Trust Inc. (NYSE:GAB)

Arete Wealth Advisors LLC bought a new position in The Gabelli Equity Trust Inc. (NYSE:GAB) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 15,573 shares of the financial services provider’s stock, valued at approximately $85,000.

A number of other large investors have also recently added to or reduced their stakes in GAB. Executive Wealth Management LLC acquired a new stake in shares of The Gabelli Equity Trust in the third quarter worth $82,000. LRI Investments LLC bought a new position in The Gabelli Equity Trust in the 3rd quarter worth $90,000. HighTower Advisors LLC lifted its position in The Gabelli Equity Trust by 13.3% during the 3rd quarter. HighTower Advisors LLC now owns 84,531 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 9,914 shares during the last quarter. Financial Counselors Inc. boosted its holdings in The Gabelli Equity Trust by 374.5% during the third quarter. Financial Counselors Inc. now owns 54,395 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 42,931 shares during the period. Finally, Capital Square LLC acquired a new stake in shares of The Gabelli Equity Trust in the third quarter valued at about $103,000. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Trading Down 0.3 %

The Gabelli Equity Trust stock opened at $5.59 on Friday. The business’s 50-day simple moving average is $5.57 and its 200-day simple moving average is $5.46. The Gabelli Equity Trust Inc. has a 52 week low of $4.96 and a 52 week high of $5.85.

The Gabelli Equity Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.73%.

About The Gabelli Equity Trust

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.