HighTower Advisors LLC Buys 9,914 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

HighTower Advisors LLC boosted its stake in The Gabelli Equity Trust Inc. (NYSE:GAB) by 13.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,531 shares of the financial services provider’s stock after buying an additional 9,914 shares during the quarter. HighTower Advisors LLC’s holdings in The Gabelli Equity Trust were worth $462,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GAB. Shaker Financial Services LLC boosted its stake in shares of The Gabelli Equity Trust by 413.3% in the 3rd quarter. Shaker Financial Services LLC now owns 652,653 shares of the financial services provider’s stock worth $3,583,000 after buying an additional 525,502 shares during the last quarter. Consolidated Portfolio Review Corp purchased a new stake in shares of The Gabelli Equity Trust during the third quarter valued at approximately $648,000. International Assets Investment Management LLC lifted its holdings in The Gabelli Equity Trust by 466.5% during the third quarter. International Assets Investment Management LLC now owns 2,301,030 shares of the financial services provider’s stock worth $12,633,000 after acquiring an additional 1,894,854 shares during the period. Wolverine Asset Management LLC boosted its position in The Gabelli Equity Trust by 435.6% in the third quarter. Wolverine Asset Management LLC now owns 121,044 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 98,444 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in The Gabelli Equity Trust by 8.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,789,806 shares of the financial services provider’s stock valued at $14,507,000 after purchasing an additional 216,440 shares during the period. 7.24% of the stock is currently owned by institutional investors.

The Gabelli Equity Trust Stock Up 2.6 %

Shares of The Gabelli Equity Trust stock opened at $5.50 on Friday. The stock has a fifty day moving average price of $5.57 and a 200-day moving average price of $5.46. The Gabelli Equity Trust Inc. has a 1 year low of $4.96 and a 1 year high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 10.91%. The ex-dividend date of this dividend was Friday, December 13th.

The Gabelli Equity Trust Company 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.