Valeo Financial Advisors LLC Acquires 10,835 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

Valeo Financial Advisors LLC raised its holdings in The Gabelli Equity Trust Inc. (NYSE:GAB) by 34.7% during the third quarter, Holdings Channel.com reports. The fund owned 42,032 shares of the financial services provider’s stock after purchasing an additional 10,835 shares during the period. Valeo Financial Advisors LLC’s holdings in The Gabelli Equity Trust were worth $231,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GAB. Commonwealth Equity Services LLC increased 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 acquiring an additional 216,440 shares during the last quarter. Cetera Investment Advisers increased its stake 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 valued at $2,518,000 after purchasing an additional 34,868 shares in the last quarter. International Assets Investment Management LLC raised its holdings in The Gabelli Equity Trust by 244.9% in 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 purchasing an additional 288,400 shares during the period. Accel Wealth Management grew its holdings in shares of The Gabelli Equity Trust by 8.6% in the 2nd quarter. Accel Wealth Management now owns 321,257 shares of the financial services provider’s stock valued at $1,671,000 after buying an additional 25,443 shares during the period. Finally, Private Advisor Group LLC grew its holdings in shares of The Gabelli Equity Trust by 34.5% in the 1st quarter. Private Advisor Group LLC now owns 195,807 shares of the financial services provider’s stock valued at $1,081,000 after buying an additional 50,220 shares during the period. Institutional investors and hedge funds own 7.24% of the company’s stock.

The Gabelli Equity Trust Trading Down 0.2 %

GAB stock opened at $5.46 on Wednesday. The business’s 50-day moving average price is $5.43 and its two-hundred day moving average price is $5.40. The Gabelli Equity Trust Inc. has a 1-year low of $4.56 and a 1-year high of $5.74.

The Gabelli Equity Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 10.99%.

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.