Blue Bell Private Wealth Management Lowers stake in Gabelli Equity Trust Inc (GAB)

Gabelli Equity Trust Inc (GAB) : Blue Bell Private Wealth Management reduced its stake in Gabelli Equity Trust Inc by 91.24% during the most recent quarter end. The investment management company now holds a total of 339 shares of Gabelli Equity Trust Inc which is valued at $1,820 after selling 3,530 shares in Gabelli Equity Trust Inc , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in GAB in the latest quarter, The investment management firm added 41,167 additional shares and now holds a total of 196,076 shares of Gabelli Equity Trust Inc which is valued at $1,047,046. Gabelli Equity Trust Inc makes up approx 0.04% of Msi Financial Services Inc’s portfolio.Creative Planning reduced its stake in GAB by selling 2,700 shares or 2.93% in the most recent quarter. The Hedge Fund company now holds 89,453 shares of GAB which is valued at $483,941.

Gabelli Equity Trust Inc opened for trading at $5.37 and hit $5.39 on the upside on Friday, eventually ending the session at $5.37, with a gain of 0.56% or 0.03 points. The heightened volatility saw the trading volume jump to 1,97,513 shares. Company has a market cap of $964 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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