Arista Wealth Management LLC Purchases Shares of 47,128 The Gabelli Equity Trust Inc. (NYSE:GAB)

Arista Wealth Management LLC acquired a new position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 47,128 shares of the financial services provider’s stock, valued at approximately $245,000.

Other hedge funds also recently modified their holdings of the company. Steward Partners Investment Solutions LLC acquired a new stake in The Gabelli Equity Trust in the fourth quarter worth $27,000. Concourse Financial Group Securities Inc. increased its position in The Gabelli Equity Trust by 252.9% in the 2nd quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider’s stock valued at $31,000 after buying an additional 4,300 shares in the last quarter. Rothschild Investment LLC acquired a new position in The Gabelli Equity Trust during the 2nd quarter worth approximately $31,000. ICA Group Wealth Management LLC acquired a new position in The Gabelli Equity Trust during the 4th quarter worth approximately $32,000. Finally, CreativeOne Wealth LLC bought a new position in The Gabelli Equity Trust in the first quarter worth approximately $56,000. Institutional investors own 7.24% of the company’s stock.

Insider Activity

In other news, insider Mario J. Gabelli purchased 11,750 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were acquired at an average cost of $100.00 per share, for a total transaction of $1,175,000.00. Following the completion of the acquisition, the insider now owns 16,750 shares in the company, valued at $1,675,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

The Gabelli Equity Trust Stock Up 0.7 %

Shares of NYSE:GAB opened at $5.50 on Friday. The stock’s 50 day moving average is $5.41 and its 200-day moving average is $5.41. The Gabelli Equity Trust Inc. has a twelve month low of $4.56 and a twelve month high of $5.74.

The Gabelli Equity Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 16th will be paid a $0.15 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 10.91%.

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.