Aurora Private Wealth Inc. Acquires New Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Aurora Private Wealth Inc. acquired a new stake in The Gabelli Equity Trust Inc. (NYSE:GAB) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,459 shares of the financial services provider’s stock, valued at approximately $56,000.

A number of other hedge funds have also added to or reduced their stakes in GAB. CNB Bank bought a new position in The Gabelli Equity Trust in the third quarter valued at approximately $38,000. Triton Wealth Management PLLC bought a new position in The Gabelli Equity Trust in the third quarter valued at approximately $60,000. Meridian Wealth Management LLC bought a new position in The Gabelli Equity Trust in the third quarter valued at approximately $75,000. Executive Wealth Management LLC bought a new position in The Gabelli Equity Trust in the third quarter valued at approximately $82,000. Finally, Arete Wealth Advisors LLC bought a new position in The Gabelli Equity Trust in the third quarter valued at approximately $85,000. 7.24% of the stock is owned by institutional investors.

The Gabelli Equity Trust Price Performance

Shares of NYSE:GAB opened at $5.66 on Monday. The company’s 50 day simple moving average is $5.55 and its 200 day simple moving average is $5.47. The Gabelli Equity Trust Inc. has a 1 year low of $5.09 and a 1 year high of $5.85.

The Gabelli Equity Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a yield of 10.61%.

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.