Thompson Davis & CO. Inc. Makes New $76,000 Investment in Gabelli Equity Trust Inc. $GAB

Thompson Davis & CO. Inc. acquired a new stake in shares of Gabelli Equity Trust Inc. (NYSE:GAB) in the second quarter, HoldingsChannel reports. The firm acquired 13,000 shares of the financial services provider’s stock, valued at approximately $76,000.

A number of other hedge funds also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in Gabelli Equity Trust in the 2nd quarter worth approximately $36,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Gabelli Equity Trust by 472.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 7,850 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 6,479 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Gabelli Equity Trust by 194.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,251 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 5,447 shares in the last quarter. Triton Wealth Management PLLC bought a new stake in Gabelli Equity Trust in the second quarter worth $66,000. Finally, Aire Advisors LLC bought a new stake in Gabelli Equity Trust in the second quarter worth $69,000. 7.24% of the stock is currently owned by hedge funds and other institutional investors.

Gabelli Equity Trust Trading Down 0.6%

GAB stock opened at $6.02 on Friday. Gabelli Equity Trust Inc. has a 52 week low of $4.50 and a 52 week high of $6.32. The company has a fifty day simple moving average of $6.08 and a two-hundred day simple moving average of $5.91.

Gabelli Equity Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 12th will be given a $0.15 dividend. The ex-dividend date is Friday, December 12th. This represents a $0.60 annualized dividend and a yield of 10.0%.

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.