Thompson Davis & CO. Inc. Buys New Position in Gabelli Equity Trust Inc. $GAB

Thompson Davis & CO. Inc. bought a new position in Gabelli Equity Trust Inc. (NYSE:GAB) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 13,000 shares of the financial services provider’s stock, valued at approximately $76,000.

Several other hedge funds have also bought and sold shares of the stock. Good Life Advisors LLC raised its stake in shares of Gabelli Equity Trust by 10.0% in the second quarter. Good Life Advisors LLC now owns 22,161 shares of the financial services provider’s stock worth $129,000 after buying an additional 2,020 shares during the period. Kingswood Wealth Advisors LLC increased its holdings in Gabelli Equity Trust by 4.9% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 64,836 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 3,000 shares in the last quarter. Valley Brook Capital Group Inc. raised its stake in Gabelli Equity Trust by 2.7% during the 2nd quarter. Valley Brook Capital Group Inc. now owns 115,836 shares of the financial services provider’s stock worth $674,000 after acquiring an additional 3,000 shares during the period. IFG Advisory LLC raised its stake in Gabelli Equity Trust by 11.7% during the 2nd quarter. IFG Advisory LLC now owns 31,486 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 3,300 shares during the period. Finally, Accel Wealth Management lifted its holdings in Gabelli Equity Trust by 1.2% during the second quarter. Accel Wealth Management now owns 364,694 shares of the financial services provider’s stock valued at $2,123,000 after purchasing an additional 4,185 shares in the last quarter. Institutional investors own 7.24% of the company’s stock.

Gabelli Equity Trust Trading Down 0.6%

GAB opened at $6.02 on Friday. The company has a 50 day simple moving average of $6.08 and a two-hundred day simple moving average of $5.91. Gabelli Equity Trust Inc. has a 1-year low of $4.50 and a 1-year high of $6.32.

Gabelli Equity Trust Dividend Announcement

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

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.