Golden State Wealth Management LLC Invests $2.93 Million in The Gabelli Equity Trust Inc. (NYSE:GAB)

Golden State Wealth Management LLC purchased a new stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 543,761 shares of the financial services provider’s stock, valued at approximately $2,925,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. CNB Bank bought a new position in shares of The Gabelli Equity Trust during the third quarter valued at approximately $38,000. Aurora Private Wealth Inc. bought a new stake in The Gabelli Equity Trust during the fourth quarter valued at about $56,000. Strategic Financial Concepts LLC bought a new stake in The Gabelli Equity Trust during the fourth quarter valued at about $58,000. Meridian Wealth Management LLC purchased a new position in The Gabelli Equity Trust in the third quarter valued at about $75,000. Finally, Executive Wealth Management LLC bought a new position in The Gabelli Equity Trust in the third quarter worth about $82,000. 7.24% of the stock is currently owned by institutional investors.

The Gabelli Equity Trust Stock Up 0.1 %

Shares of The Gabelli Equity Trust stock opened at $5.58 on Friday. The firm’s 50 day moving average price is $5.54 and its 200-day moving average price is $5.48. The Gabelli Equity Trust Inc. has a 52-week low of $5.09 and a 52-week high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 10.76%. The ex-dividend date was Friday, December 13th.

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.