LPL Financial LLC Buys 776,591 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

LPL Financial LLC lifted its stake in The Gabelli Equity Trust Inc. (NYSE:GAB) by 28.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,520,427 shares of the financial services provider’s stock after buying an additional 776,591 shares during the quarter. LPL Financial LLC owned about 1.17% of The Gabelli Equity Trust worth $18,940,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GAB. Commonwealth Equity Services LLC increased its holdings in The Gabelli Equity Trust by 0.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,903,700 shares of the financial services provider’s stock worth $10,242,000 after acquiring an additional 12,503 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of The Gabelli Equity Trust in the fourth quarter worth approximately $2,925,000. Raymond James Financial Inc. purchased a new stake in shares of The Gabelli Equity Trust in the fourth quarter worth $2,614,000. Independent Advisor Alliance bought a new stake in shares of The Gabelli Equity Trust during the 4th quarter valued at $1,978,000. Finally, Accel Wealth Management lifted its stake in shares of The Gabelli Equity Trust by 6.1% during the 4th quarter. Accel Wealth Management now owns 346,036 shares of the financial services provider’s stock valued at $1,862,000 after buying an additional 19,990 shares in the last quarter. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Trading Down 0.1 %

Shares of GAB stock opened at $5.50 on Tuesday. The stock has a fifty day simple moving average of $5.54 and a two-hundred day simple moving average 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.92%. The ex-dividend date of this dividend was 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.