Silver Oak Securities Incorporated Invests $400,000 in The Gabelli Equity Trust Inc. (NYSE:GAB)

Silver Oak Securities Incorporated bought a new position in The Gabelli Equity Trust Inc. (NYSE:GAB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 78,741 shares of the financial services provider’s stock, valued at approximately $400,000.

A number of other institutional investors have also recently modified their holdings of GAB. AE Wealth Management LLC grew its stake in shares of The Gabelli Equity Trust by 25.8% in the third quarter. AE Wealth Management LLC now owns 28,279 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 5,802 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of The Gabelli Equity Trust by 2.3% in the third quarter. Commonwealth Equity Services LLC now owns 1,699,697 shares of the financial services provider’s stock worth $8,719,000 after acquiring an additional 38,228 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of The Gabelli Equity Trust by 2.9% in the third quarter. Stratos Wealth Partners LTD. now owns 119,111 shares of the financial services provider’s stock worth $611,000 after acquiring an additional 3,353 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of The Gabelli Equity Trust in the third quarter worth $642,000. Finally, NBC Securities Inc. purchased a new stake in shares of The Gabelli Equity Trust in the third quarter worth $180,000. 7.24% of the stock is owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Price Performance

NYSE GAB opened at $5.30 on Wednesday. The Gabelli Equity Trust Inc. has a 12 month low of $4.56 and a 12 month high of $5.88. The stock’s fifty day moving average price is $5.41 and its 200-day moving average price is $5.18.

The Gabelli Equity Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 14th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.32%. The ex-dividend date of this dividend was Wednesday, March 13th.

Insider Activity

In other The Gabelli Equity Trust news, insider Mario J. Gabelli purchased 10,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of $100.00 per share, with a total value of $1,000,000.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares in the company, valued at approximately $1,000,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.86% of the company’s stock.

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.