Hollencrest Securities buys $1,544,701 stake in Gabelli Equity Trust Inc (GAB)

Gabelli Equity Trust Inc (GAB) : Hollencrest Securities scooped up 767 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 Oct 12, 2016. The investment management firm now holds a total of 285,527 shares of Gabelli Equity Trust Inc which is valued at $1,544,701.Gabelli Equity Trust Inc makes up approximately 0.23% of Hollencrest Securities’s portfolio.

Other Hedge Funds, Including , 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.Raymond James Trust N.a. boosted its stake in GAB in the latest quarter, The investment management firm added 10,828 additional shares and now holds a total of 60,184 shares of Gabelli Equity Trust Inc which is valued at $330,410. Gabelli Equity Trust Inc makes up approx 0.03% of Raymond James Trust N.a.’s portfolio.Fisher Asset Management boosted its stake in GAB in the latest quarter, The investment management firm added 403 additional shares and now holds a total of 15,543 shares of Gabelli Equity Trust Inc which is valued at $85,331.

Gabelli Equity Trust Inc closed down -0.08 points or -1.46% at $5.41 with 3,62,094 shares getting traded on Tuesday. Post opening the session at $5.49, the shares hit an intraday low of $5.395 and an intraday high of $5.49 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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