Karpus Management buys $49,351,628 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 Aug 15, 2016. The investment management firm now holds a total of 8,538,344 shares of Gabelli Equity Trust Inc which is valued at $49,351,628.Gabelli Equity Trust Inc makes up approximately 2.13% of Karpus Management’s portfolio.

Other Hedge Funds, Including , First Allied Advisory Services reduced its stake in GAB by selling 12,111 shares or 0.98% in the most recent quarter. The Hedge Fund company now holds 1,225,053 shares of GAB which is valued at $7,080,806. Gabelli Equity Trust Inc makes up approx 0.38% of First Allied Advisory Services’s portfolio.Oppenheimer Co Inc boosted its stake in GAB in the latest quarter, The investment management firm added 4,650 additional shares and now holds a total of 40,104 shares of Gabelli Equity Trust Inc which is valued at $231,801. Gabelli Equity Trust Inc makes up approx 0.01% of Oppenheimer Co Inc’s portfolio. Janney Montgomery Scott added GAB to its portfolio by purchasing 10,765 company shares during the most recent quarter which is valued at $61,468. Community Financial Services Group added GAB to its portfolio by purchasing 10,247 company shares during the most recent quarter which is valued at $58,100. Gabelli Equity Trust Inc makes up approx 0.03% of Community Financial Services Group’s portfolio.Ifc Holdings Incorporatedfl boosted its stake in GAB in the latest quarter, The investment management firm added 23,378 additional shares and now holds a total of 635,827 shares of Gabelli Equity Trust Inc which is valued at $3,605,139. Gabelli Equity Trust Inc makes up approx 0.40% of Ifc Holdings Incorporatedfl’s portfolio.

Gabelli Equity Trust Inc opened for trading at $5.75 and hit $5.75 on the upside on Thursday, eventually ending the session at $5.75, with a gain of 0.35% or 0.02 points. The heightened volatility saw the trading volume jump to 3,04,468 shares. Company has a market cap of $1,033 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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