Gabelli Equity Trust Inc. (NYSE:GAB) Plans $0.15 Quarterly Dividend

Gabelli Equity Trust Inc. (NYSE:GAB) declared a quarterly dividend on Wednesday, November 12th. Investors of record on Friday, December 12th will be given a dividend of 0.15 per share by the financial services provider on Friday, December 19th. This represents a c) annualized dividend and a yield of 9.9%. The ex-dividend date is Friday, December 12th.

Gabelli Equity Trust Stock Up 0.2%

Shares of GAB stock opened at $6.06 on Thursday. Gabelli Equity Trust has a fifty-two week low of $4.50 and a fifty-two week high of $6.32. The firm’s 50 day moving average price is $6.08 and its two-hundred day moving average price is $5.91.

Hedge Funds Weigh In On Gabelli Equity Trust

A number of institutional investors and hedge funds have recently bought and sold shares of GAB. Kingstone Capital Partners Texas LLC raised its stake in shares of Gabelli Equity Trust by 456,629.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 123,298,660 shares of the financial services provider’s stock valued at $674,594,000 after purchasing an additional 123,271,664 shares during the period. J.W. Cole Advisors Inc. increased its stake in Gabelli Equity Trust by 1.8% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,280,478 shares of the financial services provider’s stock worth $7,798,000 after buying an additional 22,200 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Gabelli Equity Trust by 0.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 847,105 shares of the financial services provider’s stock worth $4,668,000 after buying an additional 5,430 shares in the last quarter. Cetera Investment Advisers boosted its position in Gabelli Equity Trust by 4.8% in the 2nd quarter. Cetera Investment Advisers now owns 601,262 shares of the financial services provider’s stock valued at $3,499,000 after buying an additional 27,661 shares during the last quarter. Finally, Raymond James Financial Inc. grew its stake in shares of Gabelli Equity Trust by 8.1% during the second quarter. Raymond James Financial Inc. now owns 554,382 shares of the financial services provider’s stock valued at $3,227,000 after acquiring an additional 41,437 shares in the last quarter. Hedge funds and other institutional investors own 7.24% of the company’s stock.

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.