Steward Partners Investment Advisory LLC Acquires 52,800 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

Steward Partners Investment Advisory LLC grew its stake in The Gabelli Equity Trust Inc. (NYSE:GAB) by 30.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 223,420 shares of the financial services provider’s stock after purchasing an additional 52,800 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in The Gabelli Equity Trust were worth $1,202,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GAB. Golden State Wealth Management LLC acquired a new position in The Gabelli Equity Trust in the fourth quarter valued at about $2,925,000. Accel Wealth Management increased its stake in shares of The Gabelli Equity Trust by 6.1% in the 4th quarter. Accel Wealth Management now owns 346,036 shares of the financial services provider’s stock valued at $1,862,000 after acquiring an additional 19,990 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of The Gabelli Equity Trust by 6.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 212,791 shares of the financial services provider’s stock valued at $1,168,000 after acquiring an additional 12,220 shares during the period. Thrivent Financial for Lutherans raised its position in shares of The Gabelli Equity Trust by 3.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 163,220 shares of the financial services provider’s stock valued at $896,000 after acquiring an additional 4,703 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in The Gabelli Equity Trust by 77.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 155,379 shares of the financial services provider’s stock worth $853,000 after acquiring an additional 67,889 shares during the last quarter. 7.24% of the stock is currently owned by institutional investors.

The Gabelli Equity Trust Stock Up 0.4 %

Shares of NYSE:GAB opened at $5.60 on Monday. The company has a 50 day moving average price of $5.51 and a two-hundred day moving average price of $5.52. The Gabelli Equity Trust Inc. has a 52 week low of $5.09 and a 52 week high of $5.85.

The Gabelli Equity Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.72%. The ex-dividend date of this dividend is Monday, March 17th.

About The Gabelli Equity Trust

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.