GABELLI EQUITY TRUST INC — Director's Dealing 2005

Oct 28, 2005

SEC Form 4/A — Form 4/A

Issuer: GABELLI EQUITY TRUST INC (GAB)
CIK: 0000794685
Period of Report: 2005-10-26

Reporting Person: ZIZZA SALVATORE J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-10-26	Common Stock	P	1022	$7	Acquired	8173	Direct
2005-10-26	Common Stock	P	1548	$7	Acquired	12378	Indirect
2005-10-26	Common Stock	P	1548	$7	Acquired	12378	Indirect
2005-10-26	Common Stock	P	1140	$7	Acquired	13397	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-10-26	Common Stock Purchase Rights	$7	X	7154	Disposed	2005-10-26	Common Stock (1022)	Direct
2005-10-26	Common Stocks Purchase Rights	$7	X	10836	Disposed	2005-10-26	Common Stock (1548)	Indirect
2005-10-26	Common Stock Purchase Rights	$7	X	10836	Disposed	2005-10-26	Common Stock (1548)	Indirect
2005-10-26	Common Stock Purchase Rights	$7	X	7980	Disposed	2005-10-26	Common Stock (1140)	Indirect
2005-10-11	Common Stock Purchase Rights	$7	S	4277	Disposed	2005-10-26	Common Stock (0)	Indirect

Footnotes

F1: The reporting person acquired 7,154 common stock purchase rights as a result of a pro rata distribution of such rights on September 21, 2005.

F2: The son of the reporting person acquired 10,836 common stock purchase rights as a result of a pro rata distribution of such rights on September 21, 2005.

F3: The son of the reporting person acquired 12,257 common stock purchase rights as a result of a pro rata distribution of such rights on September 21, 2005.