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

Gabelli Equity Trust Inc. (NYSE:GAB) announced a quarterly dividend on Wednesday, February 11th. Shareholders of record on Tuesday, March 17th will be paid a dividend of 0.15 per share by the financial services provider on Tuesday, March 24th. This represents a c) annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend is Tuesday, March 17th.

Gabelli Equity Trust Stock Performance

Gabelli Equity Trust stock opened at $6.33 on Thursday. Gabelli Equity Trust has a 12 month low of $4.50 and a 12 month high of $6.34. The stock’s 50-day moving average is $6.15 and its 200-day moving average is $6.08.

Insider Buying and Selling

In other Gabelli Equity Trust news, insider Mario J. Gabelli purchased 500,000 shares of Gabelli Equity Trust stock in a transaction on Friday, December 26th. The shares were purchased at an average cost of $10.00 per share, with a total value of $5,000,000.00. Following the completion of the transaction, the insider directly owned 500,000 shares in the company, valued at approximately $5,000,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Gabelli Equity Trust

Large investors have recently made changes to their positions in the business. Focus Partners Wealth acquired a new position in shares of Gabelli Equity Trust during the 1st quarter valued at $121,000. Janney Montgomery Scott LLC raised its position in Gabelli Equity Trust by 6.9% in the second quarter. Janney Montgomery Scott LLC now owns 147,684 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 9,474 shares during the period. Triton Wealth Management PLLC purchased a new position in Gabelli Equity Trust in the second quarter valued at about $66,000. Aire Advisors LLC acquired a new position in shares of Gabelli Equity Trust during the second quarter worth about $69,000. Finally, Stratos Wealth Partners LTD. lifted its stake in shares of Gabelli Equity Trust by 14.6% during the second quarter. Stratos Wealth Partners LTD. now owns 110,735 shares of the financial services provider’s stock worth $644,000 after purchasing an additional 14,115 shares in the last quarter. Institutional investors and hedge funds own 7.24% of the company’s stock.

About Gabelli Equity Trust

Gabelli Equity Trust, Inc (NYSE: GAB) is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.