HCR Wealth Advisors Makes New $383,000 Investment in The Gabelli Equity Trust Inc. (NYSE:GAB)

HCR Wealth Advisors purchased a new stake in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 75,353 shares of the financial services provider’s stock, valued at approximately $383,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. J.P. Morgan Private Wealth Advisors LLC bought a new stake in The Gabelli Equity Trust during the third quarter worth approximately $52,000. Jump Financial LLC acquired a new stake in shares of The Gabelli Equity Trust during the fourth quarter worth $58,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of The Gabelli Equity Trust during the third quarter valued at $69,000. CoreCap Advisors LLC boosted its position in shares of The Gabelli Equity Trust by 26.9% in the 4th quarter. CoreCap Advisors LLC now owns 13,491 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 2,858 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new position in shares of The Gabelli Equity Trust in the 4th quarter valued at $75,000. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Price Performance

NYSE GAB traded up $0.03 on Friday, hitting $5.57. 367,447 shares of the company were exchanged, compared to its average volume of 385,093. The Gabelli Equity Trust Inc. has a twelve month low of $4.56 and a twelve month high of $5.88. The company’s 50 day moving average price is $5.41 and its 200-day moving average price is $5.26.

The Gabelli Equity Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.77%.

Insider Activity at The Gabelli Equity Trust

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

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.