Eagle Wealth Strategies LLC Acquires New Shares in The Gabelli Equity Trust Inc. (NYSE:GAB)

Eagle Wealth Strategies LLC acquired a new stake in The Gabelli Equity Trust Inc. (NYSE:GAB) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,624 shares of the financial services provider’s stock, valued at approximately $95,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GAB. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of The Gabelli Equity Trust in the third quarter worth about $52,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of The Gabelli Equity Trust during the third quarter worth about $69,000. CoreCap Advisors LLC boosted its position in shares of The Gabelli Equity Trust by 26.9% during the fourth quarter. CoreCap Advisors LLC now owns 13,491 shares of the financial services provider’s stock worth $69,000 after buying an additional 2,858 shares during the period. Valeo Financial Advisors LLC acquired a new position in shares of The Gabelli Equity Trust during the fourth quarter worth about $75,000. Finally, Cerity Partners LLC boosted its position in shares of The Gabelli Equity Trust by 21.4% during the fourth quarter. Cerity Partners LLC now owns 14,979 shares of the financial services provider’s stock worth $76,000 after buying an additional 2,641 shares during the period. Institutional investors own 7.24% of the company’s stock.

Insider Transactions at The Gabelli Equity Trust

In other news, insider Mario J. Gabelli acquired 10,000 shares of The Gabelli Equity Trust stock in a transaction dated Thursday, February 29th. The stock was bought at an average cost of $100.00 per share, with a total value of $1,000,000.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $1,000,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is owned by insiders.

The Gabelli Equity Trust Stock Up 0.1 %

GAB stock opened at $5.32 on Tuesday. The business has a 50-day moving average of $5.41 and a 200-day moving average of $5.18. The Gabelli Equity Trust Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $5.88.

The Gabelli Equity Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 14th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.60 annualized dividend and a dividend yield of 11.29%.

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.