International Assets Investment Management LLC Buys 1,894,854 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

International Assets Investment Management LLC boosted its stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 466.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,301,030 shares of the financial services provider’s stock after purchasing an additional 1,894,854 shares during the quarter. International Assets Investment Management LLC owned about 0.76% of The Gabelli Equity Trust worth $12,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Evernest Financial Advisors LLC boosted its position in The Gabelli Equity Trust by 2.8% during the third quarter. Evernest Financial Advisors LLC now owns 99,398 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 2,663 shares in the last quarter. CNB Bank bought a new stake in The Gabelli Equity Trust during the third quarter valued at about $38,000. Good Life Advisors LLC boosted its position in The Gabelli Equity Trust by 100.0% during the third quarter. Good Life Advisors LLC now owns 56,834 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 28,417 shares in the last quarter. NBC Securities Inc. boosted its position in The Gabelli Equity Trust by 79.2% during the third quarter. NBC Securities Inc. now owns 35,466 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 15,680 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in The Gabelli Equity Trust by 34.7% during the third quarter. Valeo Financial Advisors LLC now owns 42,032 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 10,835 shares in the last quarter. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Up 0.4 %

Shares of GAB stock opened at $5.44 on Thursday. The stock’s 50-day moving average is $5.47 and its 200 day moving average is $5.40. The Gabelli Equity Trust Inc. has a 1-year low of $4.57 and a 1-year high of $5.74.

The Gabelli Equity Trust Dividend Announcement

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

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.