Triton Wealth Management PLLC Takes $60,000 Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Triton Wealth Management PLLC acquired a new stake in The Gabelli Equity Trust Inc. (NYSE:GAB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 10,975 shares of the financial services provider’s stock, valued at approximately $60,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GAB. Concourse Financial Group Securities Inc. grew its holdings in The Gabelli Equity Trust by 252.9% during the second quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 4,300 shares during the period. Rothschild Investment LLC bought a new position in The Gabelli Equity Trust during the second quarter worth about $31,000. CreativeOne Wealth LLC bought a new stake in shares of The Gabelli Equity Trust during the first quarter worth approximately $56,000. Beacon Capital Management LLC bought a new stake in shares of The Gabelli Equity Trust during the first quarter worth approximately $61,000. Finally, Kapstone Financial Advisors LLC bought a new stake in shares of The Gabelli Equity Trust during the second quarter worth approximately $61,000. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Trading Up 1.1 %

Shares of NYSE:GAB traded up $0.06 during trading on Friday, reaching $5.44. 318,582 shares of the stock were exchanged, compared to its average volume of 583,687. The Gabelli Equity Trust Inc. has a 12 month low of $4.56 and a 12 month high of $5.74. The stock has a 50-day moving average price of $5.43 and a 200-day moving average price of $5.40.

The Gabelli Equity Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.03%. The ex-dividend date was Monday, September 16th.

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.