HUB Investment Partners LLC Increases Stock Holdings in The Gabelli Equity Trust Inc. (NYSE:GAB)

HUB Investment Partners LLC grew its stake in The Gabelli Equity Trust Inc. (NYSE:GAB) by 230.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,203 shares of the financial services provider’s stock after buying an additional 35,000 shares during the period. HUB Investment Partners LLC’s holdings in The Gabelli Equity Trust were worth $270,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in The Gabelli Equity Trust by 77.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 155,379 shares of the financial services provider’s stock valued at $853,000 after acquiring an additional 67,889 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in The Gabelli Equity Trust by 30.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 223,420 shares of the financial services provider’s stock worth $1,202,000 after buying an additional 52,800 shares during the last quarter. HighTower Advisors LLC increased its position in The Gabelli Equity Trust by 13.3% during the third quarter. HighTower Advisors LLC now owns 84,531 shares of the financial services provider’s stock worth $462,000 after buying an additional 9,914 shares during the period. Strategic Financial Concepts LLC purchased a new stake in The Gabelli Equity Trust in the fourth quarter valued at approximately $58,000. Finally, Kera Capital Partners Inc. acquired a new stake in shares of The Gabelli Equity Trust in the fourth quarter valued at approximately $569,000. 7.24% of the stock is owned by hedge funds and other institutional investors.

The Gabelli Equity Trust Stock Up 1.9 %

Shares of The Gabelli Equity Trust stock opened at $5.60 on Friday. The firm’s fifty day simple moving average is $5.53 and its 200-day simple moving average is $5.52. The Gabelli Equity Trust Inc. has a 12 month low of $5.09 and a 12 month high of $5.85.

The Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 10.72%.

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.