Eagle Wealth Strategies LLC Purchases Shares of 18,624 The Gabelli Equity Trust Inc. (NYSE:GAB)

Eagle Wealth Strategies LLC purchased a new stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) during the fourth quarter, Holdings Channel reports. The firm purchased 18,624 shares of the financial services provider’s stock, valued at approximately $95,000.

A number of other large investors have also added to or reduced their stakes in the company. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of The Gabelli Equity Trust in the third quarter worth about $52,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of The Gabelli Equity Trust in the third quarter worth about $69,000. CoreCap Advisors LLC increased its holdings in shares of The Gabelli Equity Trust by 26.9% in the fourth quarter. CoreCap Advisors LLC now owns 13,491 shares of the financial services provider’s stock worth $69,000 after buying an additional 2,858 shares during the period. Valeo Financial Advisors LLC purchased a new position in shares of The Gabelli Equity Trust in the fourth quarter worth about $75,000. Finally, Cerity Partners LLC increased its holdings in shares of The Gabelli Equity Trust by 21.4% in the fourth quarter. Cerity Partners LLC now owns 14,979 shares of the financial services provider’s stock worth $76,000 after buying an additional 2,641 shares during the period. Hedge funds and other institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Trading Up 0.1 %

GAB opened at $5.32 on Tuesday. The business’s 50-day moving average price is $5.41 and its 200-day moving average price is $5.18. The Gabelli Equity Trust Inc. has a 12 month low of $4.56 and a 12 month high of $5.88.

The Gabelli Equity Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 14th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.60 annualized dividend and a dividend yield of 11.29%.

Insider Buying and Selling

In other The Gabelli Equity Trust news, insider Mario J. Gabelli bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average cost of $100.00 per share, with a total value of $1,000,000.00. Following the completion of the purchase, the insider now directly owns 10,000 shares of the company’s stock, valued at $1,000,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.86% of the stock is owned by insiders.

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.