Triton Wealth Management PLLC Invests $66,000 in Gabelli Equity Trust Inc. $GAB

Triton Wealth Management PLLC purchased a new stake in shares of Gabelli Equity Trust Inc. (NYSE:GAB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,031 shares of the financial services provider’s stock, valued at approximately $66,000.

Other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in Gabelli Equity Trust by 472.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 7,850 shares of the financial services provider’s stock valued at $43,000 after buying an additional 6,479 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Gabelli Equity Trust by 194.3% during the first quarter. PNC Financial Services Group Inc. now owns 8,251 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 5,447 shares during the period. Novem Group acquired a new position in shares of Gabelli Equity Trust during the first quarter valued at $58,000. Sagespring Wealth Partners LLC bought a new position in Gabelli Equity Trust in the first quarter valued at about $74,000. Finally, Belpointe Asset Management LLC acquired a new stake in Gabelli Equity Trust in the first quarter worth about $74,000. Institutional investors own 7.24% of the company’s stock.

Gabelli Equity Trust Price Performance

Shares of NYSE:GAB opened at $6.00 on Wednesday. Gabelli Equity Trust Inc. has a 1-year low of $4.50 and a 1-year high of $6.32. The business has a 50-day moving average price of $6.07 and a two-hundred day moving average price of $5.80.

Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 16th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 10.0%. The ex-dividend date was Tuesday, September 16th.

Gabelli Equity Trust Company 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.