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GABELLI EQUITY TRUST INC Director's Dealing 2009

Jul 10, 2009

31730_dirs_2009-07-10_c5c98dd1-09d0-457c-a324-019e507aa0ca.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GABELLI EQUITY TRUST INC (GAB)
CIK: 0000794685
Period of Report: 2009-07-09

Reporting Person: GABELLI MARIO J (Director)
Reporting Person: GGCP, INC. (Majority shareholder of GAMCO)
Reporting Person: MJG IV LIMITED PARTNERSHIP (Limited Partnership)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2009-07-09 Common Stock D 1452 $4.06 Disposed 631383 Indirect

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 947963.2733 Direct
Common Stock 37358 Indirect

Footnotes

F1: The shares reported reflect the total shares owned by GGCP. Mr. Gabelli has less than a 100% interest in GGCP and disclaims beneficial ownership of the shares owned by this entity which are in excess of his indirect pecuniary interests.

F2: The shares reported reflect the total shares owned by MJG IV Limited Partnership, a limited partnership for which Mr. Gabelli serves as a general partner. Mr. Gabelli has less than a 100% interest in the entity and disclaims beneficial ownership of the shares owned by this entity which are in excess of his indirect pecuniary interest.