206,750 Shares in The Gabelli Equity Trust Inc. (NYSE:GAB) Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC bought a new stake in The Gabelli Equity Trust Inc. (NYSE:GAB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 206,750 shares of the financial services provider’s stock, valued at approximately $1,050,000. Wolverine Asset Management LLC owned approximately 0.07% of The Gabelli Equity Trust as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of The Gabelli Equity Trust in the third quarter worth $52,000. Envestnet Portfolio Solutions Inc. acquired a new position in The Gabelli Equity Trust in the 3rd quarter worth about $69,000. CoreCap Advisors LLC increased its holdings in shares of The Gabelli Equity Trust by 26.9% during the 4th quarter. CoreCap Advisors LLC now owns 13,491 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 2,858 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in The Gabelli Equity Trust during the 4th quarter valued at approximately $75,000. Finally, Cerity Partners LLC lifted its position in shares of The Gabelli Equity Trust by 21.4% in the 4th quarter. Cerity Partners LLC now owns 14,979 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 2,641 shares during the period. 7.24% of the stock is currently owned by institutional investors.

The Gabelli Equity Trust Stock Down 0.2 %

GAB stock opened at $5.30 on Friday. The business has a fifty day moving average price of $5.41 and a 200 day moving average price of $5.17. The Gabelli Equity Trust Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $5.88.

The Gabelli Equity Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 14th were issued 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 11.32%.

Insider Activity

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

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.