Accel Wealth Management Acquires 9,951 Shares of The Gabelli Equity Trust Inc. (NYSE:GAB)

Accel Wealth Management raised its position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 3.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 295,814 shares of the financial services provider’s stock after purchasing an additional 9,951 shares during the period. Accel Wealth Management owned approximately 0.10% of The Gabelli Equity Trust worth $1,633,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Steward Partners Investment Solutions LLC purchased a new stake in The Gabelli Equity Trust during the fourth quarter valued at about $27,000. ICA Group Wealth Management LLC purchased a new position in shares of The Gabelli Equity Trust in the fourth quarter worth about $32,000. Jump Financial LLC purchased a new position in shares of The Gabelli Equity Trust in the fourth quarter worth about $58,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of The Gabelli Equity Trust in the third quarter worth about $69,000. Finally, CoreCap Advisors LLC increased its holdings in shares of The Gabelli Equity Trust by 26.9% in the fourth quarter. CoreCap Advisors LLC now owns 13,491 shares of the financial services provider’s stock worth $69,000 after buying an additional 2,858 shares during the period. Hedge funds and other institutional investors own 7.24% of the company’s stock.

Insider Buying and Selling at The Gabelli Equity Trust

In other news, insider Mario J. Gabelli bought 11,750 shares of The Gabelli Equity Trust stock in a transaction on Wednesday, June 26th. The shares were purchased at an average price of $100.00 per share, for a total transaction of $1,175,000.00. Following the acquisition, the insider now owns 16,750 shares of the company’s stock, valued at $1,675,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

The Gabelli Equity Trust Stock Up 1.3 %

Shares of GAB traded up $0.07 during trading hours on Thursday, hitting $5.32. The company had a trading volume of 317,823 shares, compared to its average volume of 767,011. The stock’s 50 day moving average price is $5.41 and its 200 day moving average price is $5.32. The Gabelli Equity Trust Inc. has a 52-week low of $4.56 and a 52-week high of $5.86.

The Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Thursday, June 13th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 11.28%. The ex-dividend date was Thursday, June 13th.

The 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.