Triton Wealth Management PLLC Takes Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Triton Wealth Management PLLC purchased a new stake in The Gabelli Equity Trust Inc. (NYSE:GAB) in the third quarter, HoldingsChannel reports. The firm purchased 10,975 shares of the financial services provider’s stock, valued at approximately $60,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its position in The Gabelli Equity Trust by 22.4% during the first quarter. Commonwealth Equity Services LLC now owns 2,573,366 shares of the financial services provider’s stock valued at $14,205,000 after purchasing an additional 470,699 shares in the last quarter. Cetera Investment Advisers boosted its stake in The Gabelli Equity Trust by 1,196.4% in the first quarter. Cetera Investment Advisers now owns 449,417 shares of the financial services provider’s stock valued at $2,481,000 after buying an additional 414,751 shares in the last quarter. International Assets Investment Management LLC raised its stake in The Gabelli Equity Trust by 244.9% during the second quarter. International Assets Investment Management LLC now owns 406,176 shares of the financial services provider’s stock worth $2,112,000 after acquiring an additional 288,400 shares in the last quarter. Advisors Asset Management Inc. bought a new position in shares of The Gabelli Equity Trust in the first quarter worth about $716,000. Finally, Choreo LLC acquired a new stake in shares of The Gabelli Equity Trust in the 2nd quarter valued at approximately $481,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Equity Trust Trading Up 1.1 %

Shares of NYSE GAB traded up $0.06 during mid-day trading on Friday, hitting $5.44. 318,582 shares of the stock traded hands, compared to its average volume of 583,687. The Gabelli Equity Trust Inc. has a twelve month low of $4.56 and a twelve month high of $5.74. The firm has a 50 day simple moving average of $5.43 and a two-hundred day simple moving average of $5.40.

The Gabelli Equity Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 11.03%. The ex-dividend date of this dividend was Monday, September 16th.

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.