Valley Brook Capital Group Inc. Raises Holdings in Gabelli Equity Trust Inc. $GAB

Valley Brook Capital Group Inc. increased its holdings in Gabelli Equity Trust Inc. (NYSE:GAB) by 2.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 115,836 shares of the financial services provider’s stock after acquiring an additional 3,000 shares during the period. Valley Brook Capital Group Inc.’s holdings in Gabelli Equity Trust were worth $674,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC grew its position in Gabelli Equity Trust by 4.9% in the second quarter. Kingswood Wealth Advisors LLC now owns 64,836 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 3,000 shares during the period. Accel Wealth Management lifted its stake in Gabelli Equity Trust by 1.2% during the second quarter. Accel Wealth Management now owns 364,694 shares of the financial services provider’s stock worth $2,123,000 after purchasing an additional 4,185 shares in the last quarter. Cornell Pochily Investment Advisors Inc. acquired a new position in Gabelli Equity Trust during the second quarter worth $172,000. PFG Investments LLC lifted its stake in Gabelli Equity Trust by 7.1% during the second quarter. PFG Investments LLC now owns 92,692 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 6,143 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Gabelli Equity Trust by 6.9% during the second quarter. Janney Montgomery Scott LLC now owns 147,684 shares of the financial services provider’s stock worth $860,000 after purchasing an additional 9,474 shares in the last quarter. 7.24% of the stock is currently owned by hedge funds and other institutional investors.

Gabelli Equity Trust Stock Performance

NYSE:GAB opened at $5.87 on Friday. The stock’s fifty day moving average is $6.07 and its two-hundred day moving average is $5.79. Gabelli Equity Trust Inc. has a 52 week low of $4.50 and a 52 week high of $6.32.

Gabelli Equity Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 16th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 10.2%. The ex-dividend date was Tuesday, September 16th.

About 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.