Valley Brook Capital Group Inc. Increases Stock Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Valley Brook Capital Group Inc. grew its position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,836 shares of the financial services provider’s stock after purchasing an additional 4,500 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in The Gabelli Equity Trust were worth $248,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wolverine Asset Management LLC purchased a new stake in The Gabelli Equity Trust in the fourth quarter valued at approximately $1,050,000. Brookstone Capital Management grew its position in The Gabelli Equity Trust by 6.2% during the 4th quarter. Brookstone Capital Management now owns 56,284 shares of the financial services provider’s stock worth $286,000 after purchasing an additional 3,302 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in The Gabelli Equity Trust by 4.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 299,849 shares of the financial services provider’s stock valued at $1,523,000 after purchasing an additional 11,845 shares during the period. Eagle Wealth Strategies LLC purchased a new stake in shares of The Gabelli Equity Trust in the fourth quarter valued at about $95,000. Finally, Capital Investment Advisors LLC acquired a new stake in shares of The Gabelli Equity Trust during the fourth quarter worth about $101,000. 7.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Mario J. Gabelli purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average cost of $100.00 per share, with a total value of $1,000,000.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares in the company, valued at $1,000,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

The Gabelli Equity Trust Stock Performance

Shares of NYSE GAB traded up $0.02 during midday trading on Friday, reaching $5.35. 313,617 shares of the company were exchanged, compared to its average volume of 412,442. The Gabelli Equity Trust Inc. has a 1 year low of $4.56 and a 1 year high of $5.88. The stock has a fifty day simple moving average of $5.41 and a 200 day simple moving average of $5.19.

The Gabelli Equity Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 14th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.60 annualized dividend and a dividend yield of 11.21%.

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.