GAB: Is This ~10% Yielder A Buy?

Gabelli Equity Trust (GAB) is a fund offered by Gabelli with close to $2 billion in assets. The fund has a primary investment objective of long-term capital growth, with income as a secondary objective. GAB has a long history as the fund's inception date goes back to August 21, 1986.
I recently wrote an article about Gabelli Dividend & Income Trust (GDV), "Closed-End Fund GDV: Great Fund With Potential At An Attractive Price," where I was favorable on GDV. A reader had commented that I should check out GAB, and while I believe GDV is overall a better purchase right now, I do like what I see when looking at GAB and decided it warranted an article. I also want to note that I love all the comments and direct messages about funds that I may not have heard of and give me lots to look into! While I wish I could write an article on every fund suggested, I just currently do not have the time.
The last article done on GAB appears to be from November 1, 2017, from Left Banker, "History's Lessons On Gabelli Equity Trust's Rights Offering." Left Banker's article has a lot of great information about the rights offering GAB conducted in 2005, 2014, and 2017. I would implore you to read the very fine article. The quick summary is that these rights offerings had in the past been a chance to acquire shares while the market price dropped on announcement and then slowly recovered from there.
Distribution The fund's primary objective is long-term... Read more

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