GABELLI EQUITY TRUST INC — Director's Dealing 2005

Oct 28, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: ALPERT BRUCE N (President and Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-10-26	Common Stock	P	88	$7	Acquired	703.09	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-10-26	Common Stock Purchase Rights	$7	X	616	Disposed	2005-10-26	Common Stock (88)	Direct

Footnotes

F1: The reporting person acquired 616 common stock purchase rights as a result of a pro rata distribution of such rights on September 21, 2005.