Wolverine Asset Management LLC Increases Stock Holdings in The Gabelli Equity Trust Inc. (NYSE:GAB)

Wolverine Asset Management LLC raised its position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 435.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 121,044 shares of the financial services provider’s stock after purchasing an additional 98,444 shares during the quarter. Wolverine Asset Management LLC’s holdings in The Gabelli Equity Trust were worth $665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GAB. Concourse Financial Group Securities Inc. grew its position in The Gabelli Equity Trust by 252.9% during the second quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider’s stock valued at $31,000 after buying an additional 4,300 shares during the period. Rothschild Investment LLC bought a new position in The Gabelli Equity Trust in the second quarter worth approximately $31,000. CNB Bank purchased a new position in shares of The Gabelli Equity Trust during the 3rd quarter worth $38,000. CreativeOne Wealth LLC bought a new stake in shares of The Gabelli Equity Trust during the 1st quarter valued at $56,000. Finally, Triton Wealth Management PLLC purchased a new stake in shares of The Gabelli Equity Trust in the 3rd quarter worth $60,000. Hedge funds and other institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Performance

NYSE GAB opened at $5.57 on Thursday. The business’s fifty day moving average is $5.46 and its 200 day moving average is $5.42. The Gabelli Equity Trust Inc. has a fifty-two week low of $4.87 and a fifty-two week high of $5.74.

The Gabelli Equity Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.78%.

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.