13,592 Shares in The Gabelli Equity Trust Inc. (NYSE:GAB) Acquired by Meridian Wealth Management LLC

Meridian Wealth Management LLC bought a new stake in The Gabelli Equity Trust Inc. (NYSE:GAB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 13,592 shares of the financial services provider’s stock, valued at approximately $75,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in shares of The Gabelli Equity Trust by 8.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,789,806 shares of the financial services provider’s stock valued at $14,507,000 after buying an additional 216,440 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in The Gabelli Equity Trust by 466.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,301,030 shares of the financial services provider’s stock valued at $12,633,000 after acquiring an additional 1,894,854 shares during the period. Shaker Financial Services LLC grew its position in The Gabelli Equity Trust by 413.3% in the 3rd quarter. Shaker Financial Services LLC now owns 652,653 shares of the financial services provider’s stock valued at $3,583,000 after acquiring an additional 525,502 shares in the last quarter. Cetera Investment Advisers increased its stake in The Gabelli Equity Trust by 7.8% during the second quarter. Cetera Investment Advisers now owns 484,285 shares of the financial services provider’s stock worth $2,518,000 after purchasing an additional 34,868 shares during the period. Finally, Accel Wealth Management lifted its position in shares of The Gabelli Equity Trust by 8.6% during the second quarter. Accel Wealth Management now owns 321,257 shares of the financial services provider’s stock worth $1,671,000 after purchasing an additional 25,443 shares in the last quarter. Hedge funds and other institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Price Performance

NYSE GAB opened at $5.75 on Tuesday. The Gabelli Equity Trust Inc. has a one year low of $4.96 and a one year high of $5.78. The firm has a 50 day simple moving average of $5.47 and a 200-day simple moving average of $5.43.

The Gabelli Equity Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be paid a $0.15 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.60 annualized dividend and a dividend yield of 10.44%.

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.