Thrivent Financial for Lutherans Purchases 11,472 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

Thrivent Financial for Lutherans raised its holdings in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174,692 shares of the financial services provider’s stock after purchasing an additional 11,472 shares during the period. Thrivent Financial for Lutherans’ holdings in The Gabelli Equity Trust were worth $940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. HighTower Advisors LLC boosted its position in shares of The Gabelli Equity Trust by 13.3% during the third quarter. HighTower Advisors LLC now owns 84,531 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 9,914 shares in the last quarter. LRI Investments LLC acquired a new stake in The Gabelli Equity Trust during the 3rd quarter worth $90,000. Executive Wealth Management LLC bought a new position in The Gabelli Equity Trust during the third quarter worth about $82,000. Arete Wealth Advisors LLC acquired a new position in The Gabelli Equity Trust in the third quarter valued at about $85,000. Finally, Legacy Wealth Management LLC MS bought a new stake in shares of The Gabelli Equity Trust in the third quarter worth about $269,000. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Performance

Shares of GAB stock opened at $5.48 on Wednesday. The Gabelli Equity Trust Inc. has a 52 week low of $5.09 and a 52 week high of $5.85. The company’s 50 day moving average price is $5.54 and its two-hundred day moving average price is $5.52.

The Gabelli Equity Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 10.96%. The ex-dividend date was Monday, March 17th.

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.