Thrivent Financial for Lutherans Increases Holdings in The Gabelli Equity Trust Inc. (NYSE:GAB)

Thrivent Financial for Lutherans increased its position in The Gabelli Equity Trust Inc. (NYSE:GAB) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163,220 shares of the financial services provider’s stock after purchasing an additional 4,703 shares during the quarter. Thrivent Financial for Lutherans’ holdings in The Gabelli Equity Trust were worth $896,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Concourse Financial Group Securities Inc. increased its stake in shares of The Gabelli Equity Trust by 252.9% during the second 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 during the period. Rothschild Investment LLC bought a new position in The Gabelli Equity Trust during the 2nd quarter worth about $31,000. CNB Bank purchased a new position in The Gabelli Equity Trust during the 3rd quarter valued at about $38,000. Triton Wealth Management PLLC bought a new stake in shares of The Gabelli Equity Trust in the 3rd quarter valued at about $60,000. Finally, Kapstone Financial Advisors LLC purchased a new stake in shares of The Gabelli Equity Trust in the 2nd quarter worth approximately $61,000. 7.24% of the stock is currently owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Stock Performance

Shares of NYSE:GAB opened at $5.79 on Tuesday. The Gabelli Equity Trust Inc. has a 12-month low of $4.96 and a 12-month high of $5.81. The business’s fifty day simple moving average is $5.51 and its 200-day simple moving average is $5.44.

The Gabelli Equity Trust Dividend Announcement

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

The Gabelli Equity Trust 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.