Bank of America Updates Gabelli Equity Trust Preferred Share Holdings

TL;DR

**Bank of America updated its Gabelli Equity Trust preferred share holdings, signaling ongoing institutional interest.**

AI Summary

Bank of America Corp. /DE/ filed an amended Schedule 13G/A on January 31, 2024, indicating its ownership of Preferred Shares in The Gabelli Equity Trust Inc. as of December 31, 2023. This filing, Amendment No. 04, updates previous disclosures regarding Bank of America's passive investment in the trust's preferred shares. This matters to investors because it provides transparency into a major financial institution's holdings, which can signal confidence or changes in investment strategy for the Gabelli Equity Trust's preferred stock.

Why It Matters

This filing shows Bank of America's continued, albeit passive, investment in Gabelli Equity Trust's preferred shares, offering a glimpse into institutional sentiment for this specific security.

Risk Assessment

Risk Level: low — This is a routine amendment filing by a large institution, indicating passive ownership and not suggesting any immediate risk or significant change.

Analyst Insight

Investors should note that a major institution like Bank of America continues to hold preferred shares, suggesting stability, but this passive filing doesn't indicate any aggressive new investment or divestment strategy.

Key Numbers

• 005-84335 — SEC File Number (identifies The Gabelli Equity Trust Inc.'s registration with the SEC)
• 362397 — CUSIP Number (identifies the specific Preferred Shares of The Gabelli Equity Trust Inc.)

Key Players & Entities

• Bank of America Corp /DE/ (company) — the entity filing the SC 13G/A, reporting its ownership
• The Gabelli Equity Trust Inc. (company) — the issuer of the Preferred Shares being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• January 31, 2024 (date) — the date the SC 13G/A was filed
• Amendment No. 04 (number) — the specific amendment number of this filing

Forward-Looking Statements

• Bank of America will maintain its passive investment in Gabelli Equity Trust Preferred Shares. (Bank of America Corp /DE/) — medium confidence, target: Q1 2025

FAQ

Filing Documents

• doc1.htm (SC 13G/A) — 98KB
• bac_poa.htm (EX-99.1) — 9KB
• bana_jfa.htm (EX-99.2) — 3KB
• 0000070858-24-000020.txt ( ) — 112KB

From the Filing

SC 13G/A 1 doc1.htm Schedule 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G/A Under the Securities Exchange Act of 1934 (Amendment No. 04 )* The Gabelli Equity Trust Inc. (Name of Issuer) Preferred Shares (Title of Class of Securities) 362397 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: &#8999 Rule 13d-1(b) &#9633 Rule 13d-1(c) &#9633 Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 362397 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BANK OF AMERICA CORPORATION 56-0906609 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) &#9633 (b) &#8999 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 0 6 SHARED VOTING POWER 233 7 SOLE DISPOSITIVE POWER 0 8 SHARED DISPOSITIVE POWER 233 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 233 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) &#9633 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.0 % 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC FOOTNOTES CUSIP No. 362397 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BANK OF AMERICA, NA 94-1687665 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) &#9633 (b) &#8999 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 0 6 SHARED VOTING POWER 233 7 SOLE DISPOSITIVE POWER 0 8 SHARED DISPOSITIVE POWER 233 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 233 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) &#9633 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.0 % 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) BK FOOTNOTES Item 1. (a) Name of Issuer The Gabelli Equity Trust Inc. (b) Address of Issuer's Principal Executive Offices ONE CORP CENTER RYE, NY 10580 Item 2. (a) Name of Person Filing BANK OF AMERICA CORPORATION (b) Address of Principal Business Office or, if none, Residence BANK OF AMERICA CORPORATE CENTER 100 NORTH TRYON STREET CHARLOTTE, NC 28255 (c) Citizenship Delaware (d) Title of Class of Securities Preferred Shares (e) CUSIP Number 362397 Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) &#9633 Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) &#9633 Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) &#9633 Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) &#9633 Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). (e) &#9633 An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) &#9633 An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) &#8999 A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) &#9633 A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) &#9633 A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) &#9633 A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J). (k) &#9633 A group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 233 (b) Percent of class: 0.0 % (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 233 (iii) Sole power to di

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