GABELLI EQUITY TRUST INC — Director's Dealing 2004

Sep 20, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GABELLI EQUITY TRUST INC (GAB)
CIK: 0000794685
Period of Report: 2004-09-17

Reporting Person: BRATTER THOMAS E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-09-17	Gabelli Equity Trust	P	2500	$8.49	Acquired	23356	Indirect

Footnotes

F1: Mr. Bratter has less than a 100% interest in this entity. The securities reported reflect the total amount of securities beneficially owned by this entity, which is greater than Mr. Bratter's indirect pecuniary interest. Mr. Bratter hereby disclaims beneficial ownership of the shares held by this entity which are in excess of his indirect pecuniary interest.