The Gabelli Equity Trust Inc. (NYSE:GAB) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC lifted its stake in The Gabelli Equity Trust Inc. (NYSE:GAB) by 21.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,979 shares of the financial services provider’s stock after buying an additional 2,641 shares during the period. Cerity Partners LLC’s holdings in The Gabelli Equity Trust were worth $76,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AE Wealth Management LLC lifted its stake in The Gabelli Equity Trust by 25.8% in the third quarter. AE Wealth Management LLC now owns 28,279 shares of the financial services provider’s stock valued at $145,000 after buying an additional 5,802 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of 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 buying an additional 38,228 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of The Gabelli Equity Trust by 2.9% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 119,111 shares of the financial services provider’s stock worth $611,000 after purchasing an additional 3,353 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in The Gabelli Equity Trust during the third quarter worth about $642,000. Finally, NBC Securities Inc. purchased a new position in The Gabelli Equity Trust in the third quarter valued at about $180,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

Insiders Place Their Bets

In other The Gabelli Equity Trust news, insider Mario J. Gabelli purchased 10,000 shares of The Gabelli Equity Trust stock in a transaction on Thursday, February 29th. The shares were bought at an average price 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 of the company’s stock, valued at $1,000,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.86% of the stock is currently owned by company insiders.

The Gabelli Equity Trust Stock Down 0.4 %

Shares of GAB stock opened at $5.30 on Wednesday. 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 moving average price of $5.41 and a 200 day moving average price of $5.18.

The Gabelli Equity Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.60 annualized dividend and a yield of 11.32%.

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.