International Assets Investment Management LLC Acquires 106,000 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

International Assets Investment Management LLC boosted its holdings in The Gabelli Equity Trust Inc. (NYSE:GAB) by 900.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,776 shares of the financial services provider’s stock after purchasing an additional 106,000 shares during the period. International Assets Investment Management LLC’s holdings in The Gabelli Equity Trust were worth $640,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. UBS Group AG raised its stake in shares of The Gabelli Equity Trust by 7.2% during the third quarter. UBS Group AG now owns 449,332 shares of the financial services provider’s stock valued at $2,305,000 after acquiring an additional 30,182 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in The Gabelli Equity Trust during the third quarter valued at approximately $69,000. Scotia Capital Inc. grew its stake in shares of The Gabelli Equity Trust by 14.1% during the 3rd quarter. Scotia Capital Inc. now owns 419,537 shares of the financial services provider’s stock valued at $2,152,000 after acquiring an additional 51,691 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of The Gabelli Equity Trust by 7.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 51,520 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 3,761 shares during the period. Finally, Capital Investment Advisors LLC purchased a new position in shares of The Gabelli Equity Trust in the fourth quarter worth $101,000. 7.24% of the stock is owned by institutional investors.

The Gabelli Equity Trust Price Performance

GAB stock opened at $5.42 on Monday. The Gabelli Equity Trust Inc. has a one year low of $4.56 and a one year high of $5.88. The company’s fifty day moving average price is $5.40 and its 200-day moving average price is $5.32.

The Gabelli Equity Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 13th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.60 annualized dividend and a yield of 11.07%.

The 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.