Gabelli Equity Trust: The Highest Premium To NAV In Its CEF Category [Seeking Alpha]
Gabelli Equity Trust, Inc. (The) (GAB)
US:NYSE Investor Relations:
gabelli.com/funds/products/-111.html
Company Research
Source: Seeking Alpha
SummaryThe Gabelli Equity Trust is a closed-end fund that invests primarily in U.S. stocks with broad sector exposure.Fund features a 10% managed distribution policy while the current yield at 16% reflects deep selloff since emergence of coronavirus pandemic.We highlight a relatively unimpressive performance history combined with a currently wide premium to NAV which leads us to take a cautious view on the fund.GAB(Source: finviz.com)GAB BackgroundAcross 505 holdings, the largest position in the fund is in small-capRollins, Inc.ROLMAHON(Source: Premium)GAB's investment portfolio does not follow any index and is based on the capital market views of the management team. One of the positive attributes of the fund is that mega-cap tech names like Amazon.com, Inc. (AMZNAAPLFBGAB PerformanceGiven the historic selloff caused by the coronavirus pandemic, GAB is down 35.2% year to date which is worse than the S&P 500 (SPYWith more current data, GAB's 10-year cumulative total return of 106% at
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GAB
Sec Filings
- 11/15/24 - Form POS
- 9/6/24 - Form N-CSRS
- 8/30/24 - Form N-PX
- GAB's page on the SEC website