Concourse Financial Group Securities Inc. Increases Stake in The Gabelli Equity Trust Inc. (NYSE:GAB)

Concourse Financial Group Securities Inc. boosted its holdings in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 252.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the financial services provider’s stock after buying an additional 4,300 shares during the quarter. Concourse Financial Group Securities Inc.’s holdings in The Gabelli Equity Trust were worth $31,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GAB. Steward Partners Investment Solutions LLC purchased a new position in The Gabelli Equity Trust during the 4th quarter worth approximately $27,000. ICA Group Wealth Management LLC acquired a new stake in shares of The Gabelli Equity Trust during the 4th quarter worth approximately $32,000. CreativeOne Wealth LLC acquired a new stake in shares of The Gabelli Equity Trust during the 1st quarter worth approximately $56,000. Jump Financial LLC acquired a new stake in shares of The Gabelli Equity Trust during the 4th quarter worth approximately $58,000. Finally, Beacon Capital Management LLC acquired a new stake in shares of The Gabelli Equity Trust during the 1st quarter worth approximately $61,000. 7.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Gabelli Equity Trust

In other news, insider Mario J. Gabelli acquired 11,750 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were acquired at an average price of $100.00 per share, with a total value of $1,175,000.00. Following the purchase, the insider now directly owns 16,750 shares of the company’s stock, valued at $1,675,000. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.90% of the company’s stock.

The Gabelli Equity Trust Stock Up 0.2 %

Shares of NYSE GAB opened at $5.53 on Thursday. The Gabelli Equity Trust Inc. has a 12 month low of $4.56 and a 12 month high of $5.74. The firm’s 50 day simple moving average is $5.34 and its 200-day simple moving average is $5.39.

The Gabelli Equity Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 16th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.85%.

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.