Flputnam Investment Management Co. Takes Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Flputnam Investment Management Co. acquired a new stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,698 shares of the financial services provider’s stock, valued at approximately $85,000.

A number of other large investors have also recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of The Gabelli Equity Trust by 18.2% during the first quarter. Bank of America Corp DE now owns 1,799,025 shares of the financial services provider’s stock valued at $12,467,000 after buying an additional 276,858 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in The Gabelli Equity Trust by 2.3% in the third quarter. Commonwealth Equity Services LLC now owns 1,699,697 shares of the financial services provider’s stock valued at $8,719,000 after purchasing an additional 38,228 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in The Gabelli Equity Trust by 2.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 885,709 shares of the financial services provider’s stock valued at $4,854,000 after purchasing an additional 18,361 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in The Gabelli Equity Trust in the first quarter valued at $5,109,000. Finally, Creative Planning boosted its holdings in The Gabelli Equity Trust by 1,623.8% in the third quarter. Creative Planning now owns 657,355 shares of the financial services provider’s stock valued at $3,372,000 after purchasing an additional 619,221 shares during the last quarter. 7.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Gabelli Equity Trust

In other news, insider Mario J. Gabelli acquired 10,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was acquired at an average price of $100.00 per share, for a total transaction of $1,000,000.00. Following the completion of the transaction, the insider now owns 10,000 shares in the company, valued at approximately $1,000,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.

The Gabelli Equity Trust Price Performance

NYSE:GAB opened at $5.21 on Friday. The Gabelli Equity Trust Inc. has a one year low of $4.56 and a one year high of $5.88. The firm’s fifty day moving average is $5.41 and its two-hundred day moving average is $5.16.

The Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 11.52%. The ex-dividend date was Wednesday, March 13th.

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.