Hollencrest Securities buys $1.5 Million stake in Gabelli Equity Trust Inc (GAB)

Gabelli Equity Trust Inc (GAB) : Hollencrest Securities scooped up 4,043 additional shares in Gabelli Equity Trust Inc during the most recent quarter end , according to a recent disclosure to the SEC on Apr 5, 2016. The investment management firm now holds a total of 285,499 shares of Gabelli Equity Trust Inc which is valued at $1.5 Million.Gabelli Equity Trust Inc makes up approximately 0.26% of Hollencrest Securities’s portfolio.

Gabelli Equity Trust Inc opened for trading at $5.22 and hit $5.28 on the upside on Monday, eventually ending the session at $5.21, with a gain of 0.19% or 0.01 points. The heightened volatility saw the trading volume jump to 3,14,017 shares. Company has a market cap of $936 M.

Gabelli Equity Trust Inc. (the Fund) is a United States-based non-diversified closed-end management investment fund. The Fund’s primary objective is long term growth of capital with income as a secondary objective. The Fund invests at least 80% of its assets in securities under normal market conditions. The Fund engages in various portfolio investment strategies by investing in a number of derivative financial instruments for the purposes of increasing the income of the Fund hedging against changes in the value of its portfolio securities and in the value of securities it intends to purchase or hedging against a specific transaction with respect to either the currency in which the transaction is denominated or another currency. The Fund’s portfolio of sectors includes food and beverage financial services cable and satellite entertainment and equipment and supplies. Its holdings include Rollins Inc. and DIRECTV among others. The Fund’s investment advisor is Gabelli Funds LLC.

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