Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Monday, February 18, 3:35 AM
Slide #173. The Gabelli Equity Trust Inc. — Preferred Stock Offering
||The Gabelli Equity Trust Inc. (NYSE:GAB)
|Preferred Stock Offering Details:
||The Board of Directors of The Gabelli Equity Trust Inc. (NYSE:GAB) (the "Fund") is pleased to announce the completion of an offering of 3.2 million shares of 5.45% Series J Cumulative Preferred Stock ("Series J Preferred") valued at $80 million. The offering is expected to close on Thursday, March 31, 2016, subject to customary closing conditions.
The Gabelli Equity Trust is registered as a non-diversified, closed-end management investment company. The Fund's primary objective is long-term growth of capital. As of Dec. 31, 2016, the Fund's total assets were $1,698,701,228 and the Fund's investment portfolio was valued at $1,694,688,765.
Preferreds: GAB.PRD, GAB.PRF, GAB.PRG, GAB.PRH, GAB.PRJ
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