Accel Wealth Management Grows Stake in The Gabelli Equity Trust Inc. (NYSE:GAB)

Accel Wealth Management boosted its position in The Gabelli Equity Trust Inc. (NYSE:GAB) by 3.5% in the 1st quarter, Holdings Channel reports. The firm owned 295,814 shares of the financial services provider’s stock after buying an additional 9,951 shares during the quarter. Accel Wealth Management’s holdings in The Gabelli Equity Trust were worth $1,633,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GAB. Steward Partners Investment Solutions LLC bought a new stake in The Gabelli Equity Trust in the fourth quarter worth about $27,000. ICA Group Wealth Management LLC bought a new stake in shares of The Gabelli Equity Trust during the fourth quarter valued at approximately $32,000. Jump Financial LLC bought a new stake in shares of The Gabelli Equity Trust during the fourth quarter valued at approximately $58,000. Envestnet Portfolio Solutions Inc. bought a new position in The Gabelli Equity Trust in the third quarter worth approximately $69,000. Finally, CoreCap Advisors LLC raised its stake in The Gabelli Equity Trust by 26.9% in the fourth quarter. CoreCap Advisors LLC now owns 13,491 shares of the financial services provider’s stock worth $69,000 after buying an additional 2,858 shares in the last quarter. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Performance

NYSE:GAB traded up $0.07 during trading hours on Thursday, reaching $5.32. The company’s stock had a trading volume of 317,823 shares, compared to its average volume of 767,011. The Gabelli Equity Trust Inc. has a 12 month low of $4.56 and a 12 month high of $5.86. The stock has a 50 day moving average price of $5.41 and a two-hundred day moving average price of $5.32.

The Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 13th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 11.28%. The ex-dividend date of this dividend was Thursday, June 13th.

Insider Buying and Selling

In other news, insider Mario J. Gabelli purchased 11,750 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were acquired at an average cost of $100.00 per share, with a total value of $1,175,000.00. Following the completion of the acquisition, the insider now owns 16,750 shares of the company’s stock, valued at $1,675,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.86% of the stock is currently owned by insiders.

About The Gabelli Equity Trust

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.