Thrivent Financial for Lutherans Raises Stock Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Thrivent Financial for Lutherans grew its holdings in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 163,220 shares of the financial services provider’s stock after buying an additional 4,703 shares during the quarter. Thrivent Financial for Lutherans owned 0.05% of The Gabelli Equity Trust worth $896,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. PFG Investments LLC raised its position in The Gabelli Equity Trust by 2.3% during the third quarter. PFG Investments LLC now owns 83,651 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 1,869 shares during the period. Magnus Financial Group LLC lifted its position in The Gabelli Equity Trust by 2.7% in the second quarter. Magnus Financial Group LLC now owns 78,166 shares of the financial services provider’s stock worth $406,000 after buying an additional 2,063 shares during the last quarter. Evernest Financial Advisors LLC lifted its position in The Gabelli Equity Trust by 2.8% in the third quarter. Evernest Financial Advisors LLC now owns 99,398 shares of the financial services provider’s stock worth $546,000 after buying an additional 2,663 shares during the last quarter. Brookstone Capital Management boosted its stake in The Gabelli Equity Trust by 5.1% during the second quarter. Brookstone Capital Management now owns 56,612 shares of the financial services provider’s stock worth $311,000 after buying an additional 2,759 shares during the period. Finally, IFG Advisory LLC increased its position in The Gabelli Equity Trust by 11.7% during the second quarter. IFG Advisory LLC now owns 31,486 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 3,300 shares during the last quarter. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Price Performance

Shares of GAB opened at $5.79 on Tuesday. The company’s fifty day simple moving average is $5.51 and its 200-day simple moving average is $5.44. The Gabelli Equity Trust Inc. has a twelve month low of $4.96 and a twelve month high of $5.81.

The Gabelli Equity Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 10.36%. The ex-dividend date of this dividend is Friday, December 13th.

About The 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.