GWN Securities Inc. Takes $128,000 Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

GWN Securities Inc. purchased a new stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 22,682 shares of the financial services provider’s stock, valued at approximately $128,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kentucky Trust Co acquired a new position in shares of The Gabelli Equity Trust during the fourth quarter valued at $40,000. Aurora Private Wealth Inc. acquired a new stake in The Gabelli Equity Trust in the fourth quarter worth about $56,000. Strategic Financial Concepts LLC acquired a new stake in The Gabelli Equity Trust in the fourth quarter worth about $58,000. MTM Investment Management LLC acquired a new stake in The Gabelli Equity Trust in the fourth quarter worth about $73,000. Finally, Meridian Wealth Management LLC acquired a new stake in The Gabelli Equity Trust in the third quarter worth about $75,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Down 0.5 %

GAB stock opened at $5.37 on Wednesday. The company has a 50-day simple moving average of $5.52 and a 200 day simple moving average of $5.52. The Gabelli Equity Trust Inc. has a fifty-two week low of $5.09 and a fifty-two week high of $5.85.

The Gabelli Equity Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 11.18%. The ex-dividend date of this dividend is Monday, March 17th.

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.