Midwest Trust Co Invests $307,000 in Gabelli Equity Trust Inc. $GAB

Midwest Trust Co acquired a new stake in shares of Gabelli Equity Trust Inc. (NYSE:GAB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 52,810 shares of the financial services provider’s stock, valued at approximately $307,000.

Other hedge funds have also recently made changes to their positions in the company. Kingswood Wealth Advisors LLC lifted its position in Gabelli Equity Trust by 4.9% during the 2nd 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. Valley Brook Capital Group Inc. lifted its holdings in shares of Gabelli Equity Trust by 2.7% during the second quarter. Valley Brook Capital Group Inc. now owns 115,836 shares of the financial services provider’s stock worth $674,000 after purchasing an additional 3,000 shares during the period. IFG Advisory LLC boosted its position in Gabelli Equity Trust by 11.7% in the second quarter. IFG Advisory LLC now owns 31,486 shares of the financial services provider’s stock valued at $183,000 after buying an additional 3,300 shares during the last quarter. Accel Wealth Management raised its position in Gabelli Equity Trust by 1.2% during the 2nd quarter. Accel Wealth Management now owns 364,694 shares of the financial services provider’s stock worth $2,123,000 after buying an additional 4,185 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its stake in Gabelli Equity Trust by 4.0% during the 1st quarter. Wedbush Securities Inc. now owns 121,478 shares of the financial services provider’s stock valued at $669,000 after acquiring an additional 4,687 shares during the period. 7.24% of the stock is owned by institutional investors and hedge funds.

Gabelli Equity Trust Trading Up 0.2%

NYSE:GAB opened at $6.06 on Thursday. Gabelli Equity Trust Inc. has a 1-year low of $4.50 and a 1-year high of $6.32. The company’s fifty day moving average price is $6.08 and its 200-day moving average price is $5.91.

Gabelli Equity Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 12th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 9.9%. The ex-dividend date of this dividend is Friday, December 12th.

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.