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Gabelli Equity Trust Inc ( (GAB) ) has issued an announcement.
On March 19, 2026, Mario J. Gabelli, trustee, chairman and chief investment officer of the fund, and a senior executive and CIO for value portfolios at GAMCO, Gabelli Funds, and GAMCO Asset Management, suffered a medical incident after a busy day of events in New York City and was hospitalized for observation and testing. His condition has been improving and he is on the road to recovery, though the timing of his return remained unknown as of late March.
On March 22, 2026, GAMCO activated a long-standing succession plan, naming Christopher J. Marangi president of GAMCO, while day-to-day operations continued under co-CEO Douglas R. Jamieson alongside Marangi. During Gabelli’s absence, the Gabelli Value team’s co–chief investment officers, Kevin V. Dreyer and Marangi, are leading portfolio management for the fund, aiming to ensure continuity of investment oversight despite the temporary leadership disruption.
More about Gabelli Equity Trust Inc
The Gabelli Equity Trust Inc. is a closed-end fund advised by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc., focused on value-oriented portfolio management. The fund is overseen by a team of co–chief investment officers at Gabelli Value, reflecting GAMCO’s long-standing emphasis on value portfolios and active management for its shareholders.
Average Trading Volume: 1,317,076
For detailed information about GAB stock, go to TipRanks’ Stock Analysis page.