IMC Chicago LLC Purchases Shares of 183,328 Gabelli Equity Trust Inc. $GAB

IMC Chicago LLC purchased a new position in shares of Gabelli Equity Trust Inc. (NYSE:GAB) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 183,328 shares of the financial services provider’s stock, valued at approximately $1,038,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northstar Group Inc. acquired a new stake in Gabelli Equity Trust during the 2nd quarter worth approximately $116,000. Core Wealth Advisors Inc. purchased a new stake in Gabelli Equity Trust during the first quarter worth approximately $206,000. PNC Financial Services Group Inc. acquired a new stake in shares of Gabelli Equity Trust in the first quarter worth $33,000. Kiley Juergens Wealth Management LLC purchased a new position in shares of Gabelli Equity Trust in the 1st quarter valued at $73,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Gabelli Equity Trust by 2.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 159,155 shares of the financial services provider’s stock valued at $891,000 after acquiring an additional 3,255 shares in the last quarter. 7.24% of the stock is owned by institutional investors and hedge funds.

Gabelli Equity Trust Trading Up 0.1%

Shares of NYSE GAB opened at $5.80 on Monday. The stock has a fifty day moving average price of $5.63 and a 200 day moving average price of $5.73. Gabelli Equity Trust Inc. has a 12-month low of $5.28 and a 12-month high of $6.37.

Gabelli Equity Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.3%. The ex-dividend date is Wednesday, September 16th.

About Gabelli Equity Trust

Gabelli Equity Trust, Inc (NYSE: GAB) is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.