The Gabelli Equity Trust Inc. (NYSE:GAB) Holdings Increased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. grew its stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 90.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,675 shares of the financial services provider’s stock after buying an additional 9,366 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in The Gabelli Equity Trust were worth $100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Flputnam Investment Management Co. bought a new stake in shares of The Gabelli Equity Trust during the 4th quarter worth about $85,000. Valeo Financial Advisors LLC bought a new stake in shares of The Gabelli Equity Trust in the 4th quarter worth approximately $75,000. Cerity Partners LLC raised its holdings in shares of The Gabelli Equity Trust by 21.4% in the 4th quarter. Cerity Partners LLC now owns 14,979 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 2,641 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of The Gabelli Equity Trust in the 4th quarter worth approximately $304,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of The Gabelli Equity Trust by 4.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 299,849 shares of the financial services provider’s stock worth $1,523,000 after purchasing an additional 11,845 shares in the last quarter. 7.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Mario J. Gabelli purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $100.00 per share, for a total transaction of $1,000,000.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares of the company’s stock, valued at $1,000,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by company insiders.

The Gabelli Equity Trust Stock Performance

NYSE GAB opened at $5.31 on Friday. The company’s 50 day simple moving average is $5.41 and its 200 day simple moving average is $5.17. The Gabelli Equity Trust Inc. has a 12 month low of $4.56 and a 12 month high of $5.88.

The Gabelli Equity Trust Announces Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.31%.

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.