Advisors Asset Management Inc. Has $1.17 Million Stock Holdings in The Gabelli Equity Trust Inc. (NYSE:GAB)

Advisors Asset Management Inc. boosted its position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 212,791 shares of the financial services provider’s stock after purchasing an additional 12,220 shares during the period. Advisors Asset Management Inc.’s holdings in The Gabelli Equity Trust were worth $1,168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GAB. International Assets Investment Management LLC lifted its holdings in shares of The Gabelli Equity Trust by 466.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,301,030 shares of the financial services provider’s stock valued at $12,633,000 after buying an additional 1,894,854 shares during the last quarter. Shaker Financial Services LLC raised its position in The Gabelli Equity Trust by 413.3% during the third quarter. Shaker Financial Services LLC now owns 652,653 shares of the financial services provider’s stock valued at $3,583,000 after acquiring an additional 525,502 shares in the last quarter. Cetera Investment Advisers lifted its stake in The Gabelli Equity Trust by 1,196.4% in the first quarter. Cetera Investment Advisers now owns 449,417 shares of the financial services provider’s stock valued at $2,481,000 after acquiring an additional 414,751 shares during the last quarter. Commonwealth Equity Services LLC grew its position in The Gabelli Equity Trust by 8.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,789,806 shares of the financial services provider’s stock worth $14,507,000 after acquiring an additional 216,440 shares in the last quarter. Finally, Consolidated Portfolio Review Corp acquired a new position in shares of The Gabelli Equity Trust during the 3rd quarter worth $648,000. Hedge funds and other institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Performance

The Gabelli Equity Trust stock opened at $5.75 on Tuesday. The Gabelli Equity Trust Inc. has a 1-year low of $4.96 and a 1-year high of $5.78. The firm’s fifty day simple moving average is $5.47 and its 200-day simple moving average is $5.43.

The Gabelli Equity Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.44%.

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.