Gabelli Equity Trust Inc. (NYSE:GAB – Get Free Report) announced a quarterly dividend on Wednesday, August 12th. Shareholders of record on Wednesday, September 16th will be given a dividend of 0.15 per share by the financial services provider on Wednesday, September 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date is Wednesday, September 16th.
Gabelli Equity Trust Stock Up 0.9%
NYSE GAB opened at $5.82 on Thursday. The firm’s fifty day moving average price is $5.62 and its two-hundred day moving average price is $5.73. Gabelli Equity Trust has a fifty-two week low of $5.28 and a fifty-two week high of $6.37.
Institutional Investors Weigh In On Gabelli Equity Trust
A number of hedge funds and other institutional investors have recently bought and sold shares of GAB. Truist Financial Corp grew its holdings in Gabelli Equity Trust by 722.6% during the 4th quarter. Truist Financial Corp now owns 172,371 shares of the financial services provider’s stock worth $1,064,000 after acquiring an additional 151,416 shares during the last quarter. Drucker Wealth 3.0 LLC acquired a new position in Gabelli Equity Trust in the 4th quarter valued at approximately $126,000. Kingstone Capital Partners Texas LLC increased its position in Gabelli Equity Trust by 22.8% in the 4th quarter. Kingstone Capital Partners Texas LLC now owns 33,151 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 6,155 shares during the period. Aurora Private Wealth Inc. bought a new position in shares of Gabelli Equity Trust during the fourth quarter valued at $71,000. Finally, Exencial Wealth Advisors LLC bought a new position in shares of Gabelli Equity Trust during the fourth quarter valued at $301,000. Institutional investors own 7.24% of the company’s stock.
About Gabelli Equity Trust
Gabelli Equity Trust, Inc (NYSE: GAB) is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.
Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.
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