Flputnam Investment Management Co. Invests $85,000 in The Gabelli Equity Trust Inc. (NYSE:GAB)

Flputnam Investment Management Co. bought a new position in The Gabelli Equity Trust Inc. (NYSE:GAB) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 16,698 shares of the financial services provider’s stock, valued at approximately $85,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. ICA Group Wealth Management LLC increased its holdings in The Gabelli Equity Trust by 674.7% in the 1st quarter. ICA Group Wealth Management LLC now owns 5,167 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 4,500 shares in the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of The Gabelli Equity Trust in the 4th quarter valued at about $36,000. JPMorgan Chase & Co. grew its position in shares of The Gabelli Equity Trust by 46.1% in the 1st quarter. JPMorgan Chase & Co. now owns 6,573 shares of the financial services provider’s stock valued at $38,000 after buying an additional 2,073 shares during the last quarter. Salem Investment Counselors Inc. grew its position in shares of The Gabelli Equity Trust by 79.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 5,826 shares of the financial services provider’s stock valued at $40,000 after buying an additional 2,588 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of The Gabelli Equity Trust in the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

Insider Buying and Selling at The Gabelli Equity Trust

In other The Gabelli Equity Trust news, insider Mario J. Gabelli bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of $100.00 per share, for a total transaction of $1,000,000.00. Following the transaction, the insider now directly owns 10,000 shares in the company, valued at $1,000,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

The Gabelli Equity Trust Stock Performance

NYSE GAB opened at $5.21 on Friday. The business’s 50-day moving average price is $5.41 and its two-hundred day moving average price is $5.16. 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 business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 14th were given a $0.15 dividend. 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 11.52%.

The 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.