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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000940400-07-000133.txt : 20070301
<SEC-HEADER>0000940400-07-000133.hdr.sgml : 20070301
<ACCEPTANCE-DATETIME>20070301145542
ACCESSION NUMBER:		0000940400-07-000133
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20061231
FILED AS OF DATE:		20070301
DATE AS OF CHANGE:		20070301
EFFECTIVENESS DATE:		20070301

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GABELLI EQUITY TRUST INC
		CENTRAL INDEX KEY:			0000794685
		IRS NUMBER:				222736509
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04700
		FILM NUMBER:		07662651

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORP CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		9149215070
</SEC-HEADER>
<DOCUMENT>
<TYPE>NSAR-B
<SEQUENCE>1
<FILENAME>getnsar.fil
<TEXT>
<PAGE>      PAGE  1
000 B000000 12/31/2006
000 C000000 0000794685
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 THE GABELLI EQUITY TRUST INC.
001 B000000 811-04700
001 C000000 9149215100
002 A000000 ONE CORPORATE CENTER
002 B000000 RYE
002 C000000 NY
002 D010000 10580
002 D020000 1422
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A000001 GABELLI FUNDS, LLC
008 B000001 A
008 C000001 801-37706
008 D010001 RYE
008 D020001 NY
008 D030001 10580
008 D040001 1422
010 A000001 GABELLI FUNDS, LLC
010 B000001 801-37706
010 C010001 RYE
010 C020001 NY
010 C030001 10580
010 C040001 1422
010 A000002 PFPC INC.
010 C010002 WILMINGTON
010 C020002 DE
010 C030002 19809
012 A000001 COMPUTERSHARE TRUST COMPANY, N.A.
<PAGE>      PAGE  2
012 B000001 84-05925
012 C010001 CANTON
012 C020001 MA
012 C030001 02021
012 C040001 1011
013 A000001 PRICEWATERHOUSECOOPERS LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10017
014 A000001 GABELLI & COMPANY, INC.
014 B000001 8-21373
014 A000002 GABELLI FIXED INCOME DISTRIBUTORS, INC.
014 B000002 8-38568
015 A000001 MELLON TRUST OF NEW ENGLAND, NA
015 B000001 C
015 C010001 EVERETT
015 C020001 MA
015 C030001 02149
015 E010001 X
018  000000 Y
019 A000000 Y
019 B000000   27
019 C000000 GABELLIGRP
020 A000001 GABELLI & COMPANY, INC.
020 B000001 13-2885006
020 C000001    483
020 A000002 ALLEN & COMPANY LLC
020 B000002 13-4193615
020 C000002     52
020 A000003 BEAR STEARNS & CO., INC.
020 B000003 13-3299429
020 C000003     36
020 A000004 CANTOR FITZGERALD & CO.
020 B000004 13-3680184
020 C000004     30
020 A000005 CITIGROUP GLOBAL MARKETS, INC.
020 B000005 11-2418191
020 C000005     25
020 A000006 J.P. MORGAN SECURITIES, INC.
020 B000006 13-3379014
020 C000006     24
020 A000007 PALI CAPITAL, INC.
020 B000007 13-3864902
020 C000007     23
020 A000008 PICTET ET CIE
020 B000008 N/A
020 C000008     20
020 A000009 INTERMONTE SECURITIES SIM
020 B000009 N/A
020 C000009     19
020 A000010 INVESTEC (US), INC.
<PAGE>      PAGE  3
020 B000010 13-3732556
020 C000010     12
021  000000      829
022 A000001 BARCLAYS CAPITAL, INC.
022 B000001 06-1031656
022 C000001  32432472
022 D000001         0
022 A000002 ABN AMRO, INC.
022 B000002 13-3227945
022 C000002  17855000
022 D000002         0
022 A000003 DAIWA SECURITIES AMERICA, INC.
022 B000003 13-5680329
022 C000003    152544
022 D000003     21921
022 A000004 ABBOTT LABORATORIES
022 B000004 36-0698440
022 C000004         0
022 D000004     35100
022 A000005 NESTLE SA
022 B000005 N/A
022 C000005         0
022 D000005     28694
022 A000006 HSBC SECURITIES (USA), INC.
022 B000006 13-2650272
022 C000006     20903
022 D000006         0
022 A000007 NORDIC TELEPHONE CO.
022 B000007 N/A
022 C000007         0
022 D000007     18575
022 A000008 GILEAD SCIENCES, INC.
022 B000008 94-3047598
022 C000008         0
022 D000008     16800
022 A000009 COMPANHIA VALE DO RIO DOCE
022 B000009 N/A
022 C000009         0
022 D000009     15288
022 A000010 PILGRIM'S PRIDE CORP.
022 B000010 75-1285071
022 C000010         0
022 D000010     14700
023 C000000   50481316
023 D000000     182240
024  000000 Y
025 A000001 CITIGROUP GLOBAL MARKETS, INC.
025 B000001 11-2418191
025 C000001 E
025 D000001   13925
025 A000002 J.P. MORGAN SECURITIES, INC.
<PAGE>      PAGE  4
025 B000002 13-3379014
025 C000002 E
025 D000002    2512
025 A000003 BARCLAYS CAPITAL, INC.
025 B000003 06-1031656
025 C000003 E
025 D000003    1001
025 D000004       0
025 D000005       0
025 D000006       0
025 D000007       0
025 D000008       0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 Y
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 N
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028 F020000         0
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028 G010000         0
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028 G040000         0
028 H000000         0
<PAGE>      PAGE  5
030 A000000      0
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030 C000000  0.00
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047  000000 Y
048  000000  1.000
048 A010000        0
048 A020000 0.000
048 B010000        0
048 B020000 0.000
048 C010000        0
048 C020000 0.000
048 D010000        0
048 D020000 0.000
048 E010000        0
048 E020000 0.000
048 F010000        0
048 F020000 0.000
048 G010000        0
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048 H010000        0
048 H020000 0.000
048 I010000        0
048 I020000 0.000
048 J010000        0
048 J020000 0.000
048 K010000        0
048 K020000 0.000
049  000000 N
050  000000 N
051  000000 Y
052  000000 N
053 A000000 N
<PAGE>      PAGE  6
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
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054 K000000 N
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054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056  000000 N
057  000000 N
058 A000000 N
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062 A000000 N
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062 C000000   0.0
062 D000000   0.0
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<PAGE>      PAGE  7
067  000000 N
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070 C010000 Y
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071 A000000    555515
071 B000000    495442
071 C000000   1679696
071 D000000   30
072 A000000 12
072 B000000    10582
072 C000000    41180
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<PAGE>      PAGE  8
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072 X000000    20826
072 Y000000        0
072 Z000000    30936
072AA000000   143621
072BB000000        0
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072EE000000   120481
073 A010000   0.1569
073 A020000   0.0000
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074 B000000   219449
074 C000000    27201
074 D000000     2135
074 E000000     3845
074 F000000  1829365
074 G000000        0
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<PAGE>      PAGE  9
074 S000000   527492
074 T000000  1586906
074 U010000   168756
074 U020000        0
074 V010000     9.40
074 V020000     0.00
074 W000000   0.0000
074 X000000    78502
074 Y000000   224519
075 A000000        0
075 B000000  1882806
076  000000     9.41
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 Y
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
078  000000 N
080 A000000 NATIONAL UNION FIRE INSURANCE CO.
080 C000000    20450
081 A000000 Y
081 B000000  33
082 A000000 N
082 B000000        0
083 A000000 N
083 B000000        0
084 A000000 N
084 B000000        0
085 A000000 Y
085 B000000 N
086 A010000   2677
086 A020000  23592
086 B010000      0
086 B020000      0
086 C010000   6000
086 C020000 150000
086 D010000   1650
086 D020000  41250
<PAGE>      PAGE  10
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
087 A010000 COMMON STOCK
087 A020000 362397101
087 A030000 GAB
087 B010000 7.20% TAX ADVANTAGED SERIES B PREFERRED STOCK
087 B020000 362397408
087 B030000 GABPRB
087 C010000 5.875% SERIES D PREFERRED STOCK
087 C020000 362397705
087 C030000 GABPRD
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 Y
SIGNATURE   AGNES MULLADY
TITLE       TREASURER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>2
<FILENAME>get77b.txt
<TEXT>

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Shareholders of The Gabelli Equity
Trust Inc.:

In planning and performing our audit of the financial statements
of The Gabelli Equity Trust Inc. (the "Fund") as of and for the
year ended December 31, 2006, in accordance with the standards of
the Public Company Accounting Oversight Board (United States), we
considered the Fund's internal control over financial reporting,
including control activities for safeguarding securities, as a
basis for designing our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, but not for the purpose of
expressing an opinion on the effectiveness of the Fund's internal
control over financial reporting.  Accordingly, we do not express
an opinion on the effectiveness of the Company's internal control
over financial reporting.

The management of the Fund is responsible for establishing and
maintaining effective internal control over financial reporting.
In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls.  A Fund's internal control over
financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles.  Such
internal control over financial reporting includes policies and
procedures that provide reasonable assurance regarding prevention
or timely detection of unauthorized acquisition, use or
disposition of a Fund's assets that could have a material effect
on the financial statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.

A control deficiency exists when the design or operation of a
control does not allow management or employees, in the normal
course of performing their assigned functions, to prevent or
detect misstatements on a timely basis. A significant deficiency
is a control deficiency, or combination of control deficiencies,
that adversely affects the Fund's ability to initiate, authorize,
record, process or report external financial data reliably in
accordance with generally accepted accounting principles such
that there is more than a remote likelihood that a misstatement
of the Fund's annual or interim financial statements that is more
than inconsequential will not be prevented or detected.  A
material weakness is a control deficiency, or combination of
control deficiencies, that results in more than a remote
likelihood that a material misstatement of the annual or interim
financial statements will not be prevented or detected.

Our consideration of the Fund's internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies in
internal control over financial reporting that might be
significant deficiencies or material weaknesses under standards
established by the Public Company Accounting Oversight Board
(United States).  However, we noted no deficiencies in the Fund's
internal control over financial reporting and its operation,
including controls for safeguarding securities, that we consider
to be material weaknesses as defined above as of December 31,
2006.

This report is intended solely for the information and use of
management, the Board of Directors of The Gabelli Equity Trust
Inc. and the Securities and Exchange Commission and is not
intended to be and should not be used by anyone other than these
specified parties.


/s/ PricewaterhouseCoopers LLP (signed)
New York, New York
February 28, 2007

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77I NEW SECUR
<SEQUENCE>3
<FILENAME>get77i.txt
<TEXT>
THE GABELLI EQUITY TRUST INC.
EXHIBIT TO ITEM 77I


The Gabelli Equity Trust Inc. (the "Fund"), organized as a
Maryland Corporation, issued a new series of Preferred
Stock on November 10, 2006, valued at a total of $150
million (6,000,000 shares) of 6.20% Series F Cumulative
Preferred Stock (the "Series F Preferred Stock").  The
Cumulative Preferred Stock is senior to the common stock
and results in the financial leveraging of the common
stock. Such leveraging tends to magnify both the risks and
opportunities to common shareholders. Dividends on shares
of the Cumulative Preferred Stock are cumulative. The Fund
is required by the Investment Company Act of 1940, as
amended (the "1940 Act"), and by the Articles Supplementary
to meet certain asset coverage tests with respect to the
Cumulative Preferred Stock. If the Fund fails to meet these
requirements and does not correct such failure, the Fund
may be required to redeem, in part or in full, the 6.20%
Series F Cumulative Preferred Stock at redemption prices of
$25 per share plus an amount equal to the accumulated and
unpaid dividends whether or not declared on such shares in
order to meet these requirements. Additionally, failure to
meet the foregoing asset coverage requirements could
restrict the Fund's ability to pay dividends to common
shareholders and could lead to sales of portfolio
securities at inopportune times.

The holders of Cumulative Preferred Stock generally are
entitled to one vote per share held on each matter
submitted to a vote of shareholders of the Fund and will
vote together with holders of common stock as a single
class. The holders of Cumulative Preferred Stock voting
together as a single class also have the right currently to
elect two Directors and under certain circumstances are
entitled to elect a majority of the Board of Directors. In
addition, the affirmative vote of a majority of the votes
entitled to be cast by holders of all outstanding shares of
the preferred stock, voting as a single class, will be
required to approve any plan of reorganization adversely
affecting the preferred stock, and the approval of two-
thirds of each class, voting separately, of the Fund's
outstanding voting stock must approve the conversion of the
Fund from a closed-end to an open-end investment company.
The approval of a majority (as defined in the 1940 Act) of
the outstanding preferred stock and a majority (as defined
in the 1940 Act) of the Fund's outstanding voting
securities are required to approve certain other actions,
including changes in the Fund's investment objectives or
fundamental investment policies.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77Q1 OTHR EXHB
<SEQUENCE>4
<FILENAME>get77q1.txt
<TEXT>
THE GABELLI EQUITY TRUST INC. (the "Fund")

Exhibit Q1(a)

The Fund's Articles Supplementary Creating and Fixing the
Rights of 6.20% Series F Cumulative Preferred Stock, dated
November 7, 2006, is incorporated by reference to the
Fund's Pre-Effective No. 2 as Exhibit 2 (a)(vi) to the
Fund's Registration Statement on Form N-2, as filed with
the Securities and Exchange Commission via EDGAR on
November 6, 2006 (Accession No. 0000950123-06-013535).


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>5
<FILENAME>get77q3.txt
<TEXT>
The Gabelli Equity Trust Inc.


Because the electronic format for filing Form NSAR does not provide
adequate space for responding to Item 87 correctly, the correct
answer is as follows:

A) COMMON STOCK                                      362397101  GAB
B) 7.200% TAX ADVANTAGED SERIES B PREFERRED STOCK    362397408  GABPRB
C) 5.875% SERIES D PREFERRED STOCK                   362397705  GABPRD
D) 6.200% SERIES F PREFERRED STOCK                   362397804  GABPF


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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