Putney Financial Group LLC Takes $100,000 Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Putney Financial Group LLC acquired a new stake in The Gabelli Equity Trust Inc. (NYSE:GAB) during the fourth quarter, Holdings Channel.com reports. The firm acquired 18,679 shares of the financial services provider’s stock, valued at approximately $100,000.

A number of other institutional investors have also added to or reduced their stakes in GAB. LPL Financial LLC raised its stake in The Gabelli Equity Trust by 28.3% during the 4th quarter. LPL Financial LLC now owns 3,520,427 shares of the financial services provider’s stock worth $18,940,000 after buying an additional 776,591 shares during the period. Golden State Wealth Management LLC acquired a new position in The Gabelli Equity Trust during the 4th quarter worth approximately $2,925,000. Raymond James Financial Inc. acquired a new position in The Gabelli Equity Trust during the 4th quarter worth approximately $2,614,000. Independent Advisor Alliance acquired a new position in The Gabelli Equity Trust during the 4th quarter worth approximately $1,978,000. Finally, Guggenheim Capital LLC raised its stake in The Gabelli Equity Trust by 162.6% during the 4th quarter. Guggenheim Capital LLC now owns 167,494 shares of the financial services provider’s stock worth $901,000 after buying an additional 103,719 shares during the period. 7.24% of the stock is owned by institutional investors and hedge funds.

The Gabelli Equity Trust Stock Up 0.3%

GAB stock opened at $5.72 on Friday. The stock’s 50 day simple moving average is $5.46 and its 200 day simple moving average is $5.52. The Gabelli Equity Trust Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 13th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 10.50%. The ex-dividend date is Friday, June 13th.

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.