152,588 Shares of Gabelli Equity Trust Inc. $GAB Bought by Sowell Financial Services LLC

Sowell Financial Services LLC acquired a new position in shares of Gabelli Equity Trust Inc. (NYSE:GAB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 152,588 shares of the financial services provider’s stock, valued at approximately $800,000.

A number of other hedge funds have also modified their holdings of the company. Rivernorth Capital Management LLC acquired a new stake in Gabelli Equity Trust in the 2nd quarter valued at approximately $37,409,000. 1607 Capital Partners LLC bought a new stake in Gabelli Equity Trust in the 2nd quarter valued at approximately $2,264,000. IMC Chicago LLC bought a new stake in Gabelli Equity Trust in the 2nd quarter valued at approximately $1,038,000. Janney Montgomery Scott LLC boosted its position in Gabelli Equity Trust by 2.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 159,155 shares of the financial services provider’s stock worth $891,000 after acquiring an additional 3,255 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC acquired a new position in Gabelli Equity Trust during the 2nd quarter worth approximately $487,000. 7.24% of the stock is currently owned by institutional investors.

Gabelli Equity Trust Stock Down 2.4%

Shares of GAB opened at $5.09 on Friday. Gabelli Equity Trust Inc. has a twelve month low of $5.09 and a twelve month high of $6.37. The company has a 50 day moving average of $5.43 and a 200-day moving average of $5.55.

Gabelli Equity Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, September 16th. This represents a $0.60 annualized dividend and a yield of 11.8%.

About Gabelli Equity Trust

Gabelli Equity Trust Inc (NYSE: GAB) is a diversified, closed-end management investment company. The fund seeks long-term growth of capital, with income as a secondary objective, by investing primarily in a portfolio of common stocks and other equity securities.

The fund uses a value-oriented investment approach associated with Gabelli Funds, LLC, its investment adviser. Its portfolio may include companies across a range of industries and can contain both U.S. and international investments, providing shareholders with exposure to established and growth-oriented businesses in multiple sectors and geographies.

Gabelli Equity Trust was organized in 1986 and is managed by Gabelli Funds, an affiliate of GAMCO Investors.