The Gabelli Equity Trust Inc. (NYSE:GAB) Stake Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in The Gabelli Equity Trust Inc. (NYSE:GAB) by 77.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,379 shares of the financial services provider’s stock after acquiring an additional 67,889 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.05% of The Gabelli Equity Trust worth $853,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans grew its stake in The Gabelli Equity Trust by 50.6% in the second quarter. Thrivent Financial for Lutherans now owns 158,517 shares of the financial services provider’s stock valued at $824,000 after purchasing an additional 53,227 shares in the last quarter. Arista Wealth Management LLC bought a new stake in shares of The Gabelli Equity Trust in the 2nd quarter valued at approximately $245,000. B. Riley Wealth Advisors Inc. grew its stake in shares of The Gabelli Equity Trust by 23.3% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 63,535 shares of the financial services provider’s stock valued at $330,000 after buying an additional 12,015 shares in the last quarter. Cetera Investment Advisers increased its holdings in The Gabelli Equity Trust by 7.8% in the second quarter. Cetera Investment Advisers now owns 484,285 shares of the financial services provider’s stock worth $2,518,000 after buying an additional 34,868 shares during the last quarter. Finally, Triton Wealth Management PLLC bought a new position in The Gabelli Equity Trust during the third quarter valued at approximately $60,000. 7.24% of the stock is currently owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Trading Up 1.9 %

NYSE GAB opened at $5.46 on Thursday. The Gabelli Equity Trust Inc. has a 12-month low of $4.98 and a 12-month high of $5.85. The company has a 50 day moving average price of $5.56 and a two-hundred day moving average price of $5.46.

The Gabelli Equity Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 10.99%. The ex-dividend date 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.