CNB Bank Purchases Shares of 6,869 The Gabelli Equity Trust Inc. (NYSE:GAB)

CNB Bank purchased a new stake in The Gabelli Equity Trust Inc. (NYSE:GAB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,869 shares of the financial services provider’s stock, valued at approximately $38,000.

Other large investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of The Gabelli Equity Trust by 1,196.4% in the 1st quarter. Cetera Investment Advisers now owns 449,417 shares of the financial services provider’s stock valued at $2,481,000 after purchasing an additional 414,751 shares during the period. Quadrature Capital Ltd bought a new stake in shares of The Gabelli Equity Trust in the 1st quarter valued at approximately $68,000. Advisors Asset Management Inc. bought a new stake in shares of The Gabelli Equity Trust in the 1st quarter valued at approximately $716,000. Hartline Investment Corp bought a new stake in shares of The Gabelli Equity Trust in the 1st quarter valued at approximately $139,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of 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. Institutional investors and hedge funds own 7.24% of the company’s stock.

The Gabelli Equity Trust Trading Up 1.1 %

GAB stock opened at $5.50 on Monday. The Gabelli Equity Trust Inc. has a 1-year low of $4.56 and a 1-year high of $5.74. The business’s 50 day moving average is $5.45 and its 200-day moving average is $5.40.

The Gabelli Equity Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were paid a $0.15 dividend. The ex-dividend date was 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.