Meridian Wealth Management LLC Purchases New Stake in The Gabelli Equity Trust Inc. (NYSE:GAB)

Meridian Wealth Management LLC acquired a new position in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 13,592 shares of the financial services provider’s stock, valued at approximately $75,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GAB. Advisors Asset Management Inc. raised its holdings in shares of The Gabelli Equity Trust by 6.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 212,791 shares of the financial services provider’s stock worth $1,168,000 after acquiring an additional 12,220 shares during the period. Thrivent Financial for Lutherans boosted its holdings in The Gabelli Equity Trust by 3.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 163,220 shares of the financial services provider’s stock valued at $896,000 after purchasing an additional 4,703 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of The Gabelli Equity Trust in the 3rd quarter valued at approximately $230,000. Wolverine Asset Management LLC increased its holdings in shares of The Gabelli Equity Trust by 435.6% during the 3rd quarter. Wolverine Asset Management LLC now owns 121,044 shares of the financial services provider’s stock worth $665,000 after buying an additional 98,444 shares during the last quarter. Finally, Valley Brook Capital Group Inc. raised its position in shares of The Gabelli Equity Trust by 8.9% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 103,586 shares of the financial services provider’s stock valued at $569,000 after buying an additional 8,500 shares during the period. Institutional investors and hedge funds own 7.24% of the company’s stock.

The Gabelli Equity Trust Trading Up 1.0 %

GAB opened at $5.75 on Tuesday. The business’s 50 day moving average price is $5.47 and its 200 day moving average price is $5.43. The Gabelli Equity Trust Inc. has a one year low of $4.96 and a one year high of $5.78.

The Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.44%. The ex-dividend date is Friday, December 13th.

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.