Ashton Thomas Private Wealth LLC Acquires Shares of 41,903 The Gabelli Equity Trust Inc. (NYSE:GAB)

Ashton Thomas Private Wealth LLC acquired a new stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,903 shares of the financial services provider’s stock, valued at approximately $230,000.

A number of other institutional investors also recently modified their holdings of GAB. Concourse Financial Group Securities Inc. grew its position in shares of The Gabelli Equity Trust by 252.9% in the 2nd quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider’s stock worth $31,000 after buying an additional 4,300 shares during the last quarter. Rothschild Investment LLC purchased a new position in The Gabelli Equity Trust during the 2nd quarter valued at $31,000. CNB Bank bought a new position in The Gabelli Equity Trust in the 3rd quarter worth $38,000. CreativeOne Wealth LLC purchased a new stake in shares of The Gabelli Equity Trust in the 1st quarter worth about $56,000. Finally, Triton Wealth Management PLLC bought a new stake in shares of The Gabelli Equity Trust during the 3rd quarter valued at about $60,000. 7.24% of the stock is currently owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Price Performance

GAB stock opened at $5.53 on Friday. The Gabelli Equity Trust Inc. has a 1 year low of $4.95 and a 1 year high of $5.74. The firm has a 50-day moving average of $5.46 and a 200 day moving average of $5.42.

The Gabelli Equity Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.86%. The ex-dividend date is Friday, December 13th.

The Gabelli Equity Trust Company 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.