Gabelli Equity Trust Inc. $GAB Shares Acquired by Accel Wealth Management

Accel Wealth Management lifted its position in shares of Gabelli Equity Trust Inc. (NYSE:GAB) by 1.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 364,694 shares of the financial services provider’s stock after acquiring an additional 4,185 shares during the quarter. Accel Wealth Management’s holdings in Gabelli Equity Trust were worth $2,123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GAB. Northwestern Mutual Wealth Management Co. raised 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 in the last quarter. PNC Financial Services Group Inc. increased its position in 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 worth $45,000 after buying an additional 5,447 shares during the period. Novem Group acquired a new stake in Gabelli Equity Trust in the first quarter worth $58,000. Sagespring Wealth Partners LLC acquired a new stake in Gabelli Equity Trust in the first quarter worth $74,000. Finally, Belpointe Asset Management LLC acquired a new stake in Gabelli Equity Trust in the first quarter worth $74,000. 7.24% of the stock is owned by institutional investors and hedge funds.

Gabelli Equity Trust Stock Up 0.1%

Shares of NYSE GAB opened at $6.16 on Friday. Gabelli Equity Trust Inc. has a 1-year low of $4.50 and a 1-year high of $6.32. The business’s fifty day moving average price is $6.05 and its two-hundred day moving average price is $5.77.

Gabelli Equity Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 16th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.60 annualized dividend and a yield of 9.7%.

About Gabelli Equity Trust

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.