GAB.PRK Hits New Income Milestone: Series K Preferred Stock Crosses 6% Yield Threshold

Gabelli Equity Trust’s 5.00% Series K Cumulative Preferred Stock reached a notable valuation point Friday as its yield surpassed the 6% barrier. The ticker symbol GAB.PRK touched lows near $20.71 during the session, translating to an annualized distribution of $1.25 per share—enough to put this preferred offering above the 6% yield zone that many income-focused investors monitor closely.

How This Compares to Peers

When measured against other preferred equities within the ETFs & CEFs category, GAB.PRK’s 6%+ positioning stands alongside the segment’s average yield of 6.24%. The preferred shares are currently priced at a 16.40% discount relative to their liquidation preference value, slightly better than the category-wide average discount of 16.64%.

Market Performance on Friday

The Series K shares experienced minor downward pressure, declining approximately 0.2% during Friday’s session. Meanwhile, Gabelli Equity Trust’s common stock (GAB) moved in the opposite direction, advancing roughly 0.7%—a divergence that highlights the distinct risk-return profiles between the preferred and common share classes.

Dividend Track Record

The historical payout pattern demonstrates consistent distribution delivery across periods, reinforcing the reliability factor that preferred stock investors typically evaluate when assessing income stability in their portfolios.

This k-series cross of major yield thresholds underscores shifting valuations in the preferred equity space as interest rates and market conditions evolve.