Gabelli Equity Trust Inc. (NYSE:GAB) Shares Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC raised its stake in Gabelli Equity Trust Inc. (NYSE:GAB) by 90.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,037,271 shares of the financial services provider’s stock after purchasing an additional 493,510 shares during the period. Golden State Wealth Management LLC’s holdings in Gabelli Equity Trust were worth $5,715,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Beacon Pointe Advisors LLC lifted its holdings in shares of Gabelli Equity Trust by 7.1% in the 4th quarter. Beacon Pointe Advisors LLC now owns 30,000 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 2,000 shares during the last quarter. PFG Investments LLC increased its position in Gabelli Equity Trust by 3.5% during the first quarter. PFG Investments LLC now owns 86,549 shares of the financial services provider’s stock worth $477,000 after buying an additional 2,928 shares during the period. Atria Wealth Solutions Inc. lifted its stake in Gabelli Equity Trust by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 95,076 shares of the financial services provider’s stock valued at $512,000 after buying an additional 4,512 shares during the last quarter. Arete Wealth Advisors LLC boosted its holdings in shares of Gabelli Equity Trust by 30.2% in the fourth quarter. Arete Wealth Advisors LLC now owns 20,280 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 4,707 shares during the period. Finally, Bank of Montreal Can acquired a new stake in shares of Gabelli Equity Trust in the fourth quarter valued at approximately $56,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

Gabelli Equity Trust Stock Performance

Shares of GAB opened at $5.73 on Wednesday. The company’s 50 day simple moving average is $5.63 and its 200-day simple moving average is $5.53. Gabelli Equity Trust Inc. has a 12-month low of $4.50 and a 12-month high of $5.90.

Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 13th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 10.48%. The ex-dividend date of this dividend was Friday, June 13th.

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.