Prospectus excerpt: The Gabelli Equity Trust Inc. (the ÙFundˆ) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended (the Ù1940 Actˆ). The Fund?s primary investment objective is to achieve long-term growth of capital by investing primarily in a portfolio of equity securities consisting of common stock, preferred stock, convertible or exchangeable securities and warrants and rights to purchase such securities. Income is a secondary investment objective. Gabelli Funds, LLC (the ÙInvestment Adviserˆ) serves as investment adviser to the Fund. Under normal market conditions, the Fund will invest at least 80% of the value of its total assets in equity securities. The Fund was organized as a Maryland corporation on May 20, 1986 and commenced its investment operations on August 21, 1986. An investment in the Fund is not appropriate for all investors. We cannot assure you that the Fund?s investment objectives will be achieved.
This prospectus describes the Fund?s 6.20% Series F Cumulative Preferred Stock (the ÙSeries F Preferredˆ), liquidation preference $25 per share. Distributions on the Series F Preferred are cumulative from their original issue date at the annual rate of 6.20% of the liquidation preference of $25 per share and are payable quarterly on March 26, June 26, September 26, and December 26 of each year, commencing on December 26, 2006.