Karpus Management buys $47 Million stake in Gabelli Equity Trust Inc (GAB)

Gabelli Equity Trust Inc (GAB) : Karpus Management scooped up 804,955 additional shares in Gabelli Equity Trust Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 8,538,344 shares of Gabelli Equity Trust Inc which is valued at $47 Million.Gabelli Equity Trust Inc makes up approximately 2.12% of Karpus Management’s portfolio.

Other Hedge Funds, Including , City Of London Investment Management Co Ltd reduced its stake in GAB by selling 137,023 shares or 29.2% in the most recent quarter. The Hedge Fund company now holds 332,282 shares of GAB which is valued at $1.8 Million. Gabelli Equity Trust Inc makes up approx 0.14% of City Of London Investment Management Co Ltd’s portfolio.Wfg Advisors Lp boosted its stake in GAB in the latest quarter, The investment management firm added 23 additional shares and now holds a total of 1,303 shares of Gabelli Equity Trust Inc which is valued at $7,167.Stratos Wealth Partners Ltd. boosted its stake in GAB in the latest quarter, The investment management firm added 2,300 additional shares and now holds a total of 41,210 shares of Gabelli Equity Trust Inc which is valued at $226,655. Gabelli Equity Trust Inc makes up approx 0.02% of Stratos Wealth Partners Ltd.’s portfolio.Ifc Holdings Incorporatedfl reduced its stake in GAB by selling 2,200 shares or 0.36% in the most recent quarter. The Hedge Fund company now holds 612,449 shares of GAB which is valued at $3.4 Million. Gabelli Equity Trust Inc makes up approx 0.42% of Ifc Holdings Incorporatedfl’s portfolio. Doliver Capital Advisors sold out all of its stake in GAB during the most recent quarter. The investment firm sold 66,686 shares of GAB which is valued $369,440.

Gabelli Equity Trust Inc opened for trading at $5.55 and hit $5.6 on the upside on Wednesday, eventually ending the session at $5.59, with a gain of 0.90% or 0.05 points. The heightened volatility saw the trading volume jump to 2,73,975 shares. Company has a market cap of $1,004 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.

Leave a Reply

Gabelli Equity Trust Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Gabelli Equity Trust Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.