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

HUB Investment Partners LLC lifted its holdings in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 230.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 50,203 shares of the financial services provider’s stock after purchasing an additional 35,000 shares during the period. HUB Investment Partners LLC’s holdings in The Gabelli Equity Trust were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Kentucky Trust Co purchased a new stake in The Gabelli Equity Trust during the fourth quarter worth about $40,000. Aurora Private Wealth Inc. purchased a new stake in shares of The Gabelli Equity Trust during the 4th quarter worth approximately $56,000. Strategic Financial Concepts LLC acquired a new stake in shares of The Gabelli Equity Trust in the 4th quarter worth approximately $58,000. MTM Investment Management LLC purchased a new position in The Gabelli Equity Trust in the 4th quarter valued at approximately $73,000. Finally, Meridian Wealth Management LLC acquired a new position in The Gabelli Equity Trust during the third quarter worth $75,000. 7.24% of the stock is owned by institutional investors and hedge funds.

The Gabelli Equity Trust Price Performance

The Gabelli Equity Trust stock opened at $5.60 on Friday. The Gabelli Equity Trust Inc. has a fifty-two week low of $5.09 and a fifty-two week high of $5.85. The stock’s fifty day moving average is $5.53 and its two-hundred day moving average is $5.52.

The Gabelli Equity Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors 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 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.