Captrust Financial Advisors Raises Stake in The Gabelli Equity Trust Inc. (NYSE:GAB)

Captrust Financial Advisors lifted its position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 31.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,737 shares of the financial services provider’s stock after buying an additional 20,612 shares during the quarter. Captrust Financial Advisors’ holdings in The Gabelli Equity Trust were worth $461,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GAB. Kentucky Trust Co purchased a new stake in The Gabelli Equity Trust in the fourth quarter valued at approximately $40,000. Aurora Private Wealth Inc. purchased a new stake in The Gabelli Equity Trust in the fourth quarter valued at approximately $56,000. Bank of Montreal Can purchased a new stake in The Gabelli Equity Trust in the fourth quarter valued at approximately $56,000. Strategic Financial Concepts LLC purchased a new stake in The Gabelli Equity Trust in the fourth quarter valued at approximately $58,000. Finally, MTM Investment Management LLC purchased a new stake in The Gabelli Equity Trust during the fourth quarter worth approximately $73,000. 7.24% of the stock is currently owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Trading Up 0.1%

GAB opened at $5.78 on Monday. The Gabelli Equity Trust Inc. has a 52-week low of $4.50 and a 52-week high of $5.85. The company has a 50 day moving average of $5.43 and a two-hundred day moving average of $5.51.

The Gabelli Equity Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 13th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 10.39%.

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.