The Gabelli Equity Trust Inc. (NYSE:GAB) Shares Acquired by Financial Counselors Inc.

Financial Counselors Inc. increased its position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 374.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,395 shares of the financial services provider’s stock after purchasing an additional 42,931 shares during the period. Financial Counselors Inc.’s holdings in The Gabelli Equity Trust were worth $299,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GAB. PFG Investments LLC boosted its position in shares of The Gabelli Equity Trust by 2.3% during the 3rd quarter. PFG Investments LLC now owns 83,651 shares of the financial services provider’s stock worth $459,000 after acquiring an additional 1,869 shares in the last quarter. Magnus Financial Group LLC raised its holdings in The Gabelli Equity Trust by 2.7% during the second quarter. Magnus Financial Group LLC now owns 78,166 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 2,063 shares in the last quarter. Evernest Financial Advisors LLC lifted its position in The Gabelli Equity Trust by 2.8% in the third quarter. Evernest Financial Advisors LLC now owns 99,398 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 2,663 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of The Gabelli Equity Trust by 5.1% during the second quarter. Brookstone Capital Management now owns 56,612 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 2,759 shares during the last quarter. Finally, IFG Advisory LLC increased its position in shares of The Gabelli Equity Trust by 11.7% during the second quarter. IFG Advisory LLC now owns 31,486 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Price Performance

Shares of NYSE GAB opened at $5.79 on Friday. The business has a 50-day moving average price of $5.50 and a 200 day moving average price of $5.44. The Gabelli Equity Trust Inc. has a 52-week low of $4.96 and a 52-week high of $5.81.

The Gabelli Equity Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be issued a $0.15 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.36%.

The Gabelli Equity Trust 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.