Koshinski Asset Management Inc. Takes Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Koshinski Asset Management Inc. bought a new stake in The Gabelli Equity Trust Inc. (NYSE:GAB) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 21,908 shares of the financial services provider’s stock, valued at approximately $121,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Equity Partners increased its holdings in The Gabelli Equity Trust by 2.0% during the 4th quarter. Golden State Equity Partners now owns 115,489 shares of the financial services provider’s stock valued at $587,000 after purchasing an additional 2,219 shares during the period. Kingsview Wealth Management LLC grew its holdings in shares of The Gabelli Equity Trust by 9.8% during the 4th quarter. Kingsview Wealth Management LLC now owns 27,756 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 2,476 shares during the period. Cerity Partners LLC grew its holdings in shares of The Gabelli Equity Trust by 21.4% during the 4th quarter. Cerity Partners LLC now owns 14,979 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 2,641 shares during the period. CoreCap Advisors LLC grew its holdings in shares of The Gabelli Equity Trust by 26.9% during the 4th quarter. CoreCap Advisors LLC now owns 13,491 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 2,858 shares during the period. Finally, Brookstone Capital Management grew its holdings in shares of 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 acquiring an additional 3,302 shares during the period. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Down 0.7 %

Shares of GAB stock traded down $0.04 during midday trading on Friday, reaching $5.36. 311,526 shares of the stock were exchanged, compared to its average volume of 583,786. The Gabelli Equity Trust Inc. has a 1 year low of $4.56 and a 1 year high of $5.79. The company’s 50 day moving average is $5.41 and its two-hundred day moving average is $5.34.

The Gabelli Equity Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Thursday, June 13th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.19%.

Insiders Place Their Bets

In other news, insider Mario J. Gabelli bought 11,750 shares of The Gabelli Equity Trust stock in a transaction on Wednesday, June 26th. The shares were purchased at an average price of $100.00 per share, for a total transaction of $1,175,000.00. Following the acquisition, the insider now owns 16,750 shares of the company’s stock, valued at $1,675,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

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.