Private Advisor Group LLC increased its holdings in shares of The Gabelli Equity Trust Inc. (NYSE:GAB – Get Rating) by 106.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,561 shares of the financial services provider's stock after purchasing an additional 34,827 shares during the quarter. Private Advisor Group LLC's holdings in The Gabelli Equity Trust were worth $370,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of The Gabelli Equity Trust during the third quarter worth about $29,000. Salem Investment Counselors Inc. grew its stake in The Gabelli Equity Trust by 79.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 5,826 shares of the financial services provider's stock worth $40,000 after buying an additional 2,588 shares during the last quarter. Lincoln National Corp acquired a new position in The Gabelli Equity Trust during the third quarter worth approximately $55,000. TCG Advisory Services LLC acquired a new position in The Gabelli Equity Trust during the third quarter worth approximately $57,000. Finally, Glenmede Trust Co. NA purchased a new stake in The Gabelli Equity Trust in the third quarter valued at approximately $60,000. 7.58% of the stock is owned by institutional investors and hedge funds.

The Gabelli Equity Trust Stock Performance

Shares of GAB opened at $5.62 on Friday. The company's 50 day simple moving average is $5.75 and its 200-day simple moving average is $5.64. The Gabelli Equity Trust Inc. has a 12-month low of $4.84 and a 12-month high of $7.09.

The Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Friday, March 17th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, March 16th. This represents a $0.60 dividend on an annualized basis and a yield of 10.68%.

The Gabelli Equity Trust Profile

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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.

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