Prospectus excerpt: The Gabelli Equity Trust Inc., or the Fund, is a closed-end, non-diversified management investment company that has a primary investment objective of long-term growth of capital and a secondary investment objective of income. The Fund's investments are selected by its Investment Adviser, Gabelli Funds, LLC. The Fund invests primarily in equity securities including common stock, preferred stock, convertible or exchangeable securities and warrants and rights to purchase such securities. We cannot assure you that the Fund's objectives will be achieved.
This prospectus describes shares of the Fund's 5.875% Series D Cumulative Preferred Stock (the "Series D Preferred"), liquidation preference $25 per share. Dividends on shares of the Series D Preferred are cumulative from such original issue date at the annual rate of 5.875% of the liquidation preference of $25 per share and are payable on March 26, June 26, September 26 and December 26 in each year, commencing on December 26, 2003.