Shaker Financial Services LLC Increases Holdings in The Gabelli Equity Trust Inc. (NYSE:GAB)

Shaker Financial Services LLC raised its stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 413.3% in the third quarter, Holdings Channel reports. The institutional investor owned 652,653 shares of the financial services provider’s stock after buying an additional 525,502 shares during the quarter. The Gabelli Equity Trust comprises about 1.4% of Shaker Financial Services LLC’s portfolio, making the stock its 23rd biggest position. Shaker Financial Services LLC’s holdings in The Gabelli Equity Trust were worth $3,583,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Consolidated Portfolio Review Corp bought a new position in shares of The Gabelli Equity Trust during the 3rd quarter valued at $648,000. Cetera Investment Advisers raised its stake in shares of The Gabelli Equity Trust by 1,196.4% during the first quarter. Cetera Investment Advisers now owns 449,417 shares of the financial services provider’s stock valued at $2,481,000 after acquiring an additional 414,751 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of The Gabelli Equity Trust by 466.5% during the third quarter. International Assets Investment Management LLC now owns 2,301,030 shares of the financial services provider’s stock worth $12,633,000 after purchasing an additional 1,894,854 shares during the period. Quadrature Capital Ltd bought a new stake in shares of The Gabelli Equity Trust in the first quarter worth about $68,000. Finally, Advisors Asset Management Inc. purchased a new position in The Gabelli Equity Trust during the 1st quarter valued at about $716,000. 7.24% of the stock is owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Trading Up 2.0 %

NYSE GAB opened at $5.55 on Thursday. The Gabelli Equity Trust Inc. has a fifty-two week low of $4.71 and a fifty-two week high of $5.74. The stock has a 50 day simple moving average of $5.46 and a two-hundred day simple moving average of $5.41.

The Gabelli Equity Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 10.81%. The ex-dividend date was Monday, September 16th.

The Gabelli Equity Trust Company 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.