IMC Chicago LLC Takes $1.04 Million Position in Gabelli Equity Trust Inc. $GAB

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

A number of other large investors have also bought and sold shares of the business. Focus Partners Wealth acquired a new stake in Gabelli Equity Trust during the 1st quarter valued at $121,000. Baird Financial Group Inc. boosted its stake in Gabelli Equity Trust by 6.5% in the second quarter. Baird Financial Group Inc. now owns 32,548 shares of the financial services provider’s stock worth $189,000 after purchasing an additional 2,000 shares in the last quarter. StoneX Group Inc. bought a new stake in shares of Gabelli Equity Trust during the second quarter worth $79,000. Cerity Partners LLC grew its holdings in shares of Gabelli Equity Trust by 29.1% during the second quarter. Cerity Partners LLC now owns 306,890 shares of the financial services provider’s stock worth $1,786,000 after purchasing an additional 69,237 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of Gabelli Equity Trust by 8.1% in the second quarter. Raymond James Financial Inc. now owns 554,382 shares of the financial services provider’s stock valued at $3,227,000 after buying an additional 41,437 shares in the last quarter. 7.24% of the stock is currently owned by institutional investors.

Gabelli Equity Trust Stock Performance

Shares of NYSE:GAB opened at $5.66 on Friday. The business has a fifty day moving average of $5.67 and a 200-day moving average of $5.70. Gabelli Equity Trust Inc. has a twelve month low of $5.28 and a twelve month high of $6.37.

Gabelli Equity Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.60 dividend on an annualized basis and a yield of 10.6%.

Gabelli Equity Trust Profile

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.