<SEC-DOCUMENT>0000940400-13-000114.txt : 20130301
<SEC-HEADER>0000940400-13-000114.hdr.sgml : 20130301
<ACCEPTANCE-DATETIME>20130301144623
ACCESSION NUMBER:		0000940400-13-000114
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20121231
FILED AS OF DATE:		20130301
DATE AS OF CHANGE:		20130301
EFFECTIVENESS DATE:		20130301

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:		13656689

	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>get.fil
<TEXT>
<PAGE>      PAGE  1
000 B000000 12/31/2012
000 C000000 0000794685
000 D000000 N
000 E000000 NF
000 F000000 Y
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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
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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 BNY MELLON INVESTMENT SERVICING (US) INC.
010 B000002 84-01761
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010 C020002 DE
010 C030002 19809
012 A000001 COMPUTERSHARE TRUST COMPANY, N.A.
012 B000001 84-05925
012 C010001 CANTON
012 C020001 MA
012 C030001 02021
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013 A000001 PRICEWATERHOUSECOOPERS LLP
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013 B020001 NY
<PAGE>      PAGE  2
013 B030001 10017
014 A000001 GABELLI & COMPANY, INC.
014 B000001 8-21373
014 A000002 G.DISTRIBUTORS, LLC
014 B000002 8-68697
015 A000001 THE BANK OF NEW YORK MELLON
015 B000001 C
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020 B000005 98-0141094
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020 A000007 ROTH CAPITAL PARTNERS LLC
020 B000007 33-0947643
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020 A000008 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
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020 C000008      3
020 A000009 JEFFERIES & CO., INC.
020 B000009 95-2622900
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020 A000010 KNIGHT EQUITY MARKETS, L.P.
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SIGNATURE   SCOTT R. FUCHS
TITLE       ASSISTANT 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, 2012, 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
controls over 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 Fund'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. A fund's internal
control over financial reporting includes those policies and
procedures that (1) pertain to the maintenance of records
that, in reasonable detail, accurately and fairly reflect
the transactions and dispositions of the assets of the fund;
(2) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the fund
are being made only in accordance with authorizations of
management and directors of the fund; and (3)  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 deficiency in internal control over financial reporting
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 material weakness is a
deficiency, or a combination of deficiencies, in internal
control over financial reporting, such that there is a
reasonable possibility that a material misstatement of the
Fund's annual or interim financial statements will not be
prevented or detected on a timely basis.

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 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 over safeguarding securities,
that we consider to be material weaknesses as defined above
as of December 31, 2012.

This report is intended solely for the information and use
of management and 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
New York, New York
February 28, 2013


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77I NEW SECUR
<SEQUENCE>3
<FILENAME>get77i1.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 September 28, 2012, valued at a total of $105
million (4.2 million shares) of 5.00% Series H Cumulative
Preferred Stock (the "Series H 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 Series H 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-99.77I NEW SECUR
<SEQUENCE>4
<FILENAME>get77i2.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 August 1, 2012, valued at a total of $70,413,100
(2,816,524 shares) of Series G Cumulative Preferred Stock
(the "Series G 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 Series G 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>5
<FILENAME>get77q1.txt
<TEXT>
THE GABELLI EQUITY TRUST INC.
EXHIBIT TO ITEM 77Q(1)



THE GABELLI EQUITY TRUST INC.

ARTICLES OF AMENDMENT TO THE
ARTICLES SUPPLEMENTARY
CREATING AND FIXING THE RIGHTS OF
SERIES C AUCTION RATE CUMULATIVE PREFERRED STOCK

	The Gabelli Equity Trust Inc., a Maryland corporation
(hereinafter called the "Corporation"), hereby certifies to
the State of Department of Assessments and Taxation of the
State of Maryland that:

	FIRST:  Article I of the Articles Supplementary, Section
9(a)(ii), subsections B through E, require delivery to Moody's
of periodic "Basic Maintenance Reports," and an "Accountant's
Confirmation" of certain "Basic Maintenance Reports."  Moody's
has advised the Corporation that the delivery of such Reports
and Confirmations by it shall no longer be required.  S&P has
advised the Corporation that it will no longer require the
Accountant Confirmations.  Accordingly, the text of Section
9(a)(ii) in Article I of the Articles Supplementary is hereby
deleted in its entirety from the Articles, and replaced by the
following:

			(ii)	Series C Preferred Basic Maintenance Amount
as follows:

			(A)	For so long as Series C Preferred Shares
are rated by Moody's and/or S&P at the Corporation's request,
the Corporation shall maintain, on each Valuation Date,
Eligible Assets having an Adjusted Value at least equal to the
Series C Preferred Basic Maintenance Amount, as of such
Valuation Date.  Upon any failure to maintain Eligible Assets
having an Adjusted Value at least equal to the Series C
Preferred Basic Maintenance Amount, the Corporation shall use
all commercially reasonable efforts to re-attain Eligible
Assets having an Adjusted Value at least equal to the Series C
Preferred Basic Maintenance Amount on or prior to the Series C
Preferred Basic Maintenance Amount Cure Date, by altering the
composition of its portfolio or otherwise.

			(B)	On or before 5:00 P.M., New York City time,
on the third Business Day after a Valuation Date on which the
Corporation fails to satisfy the Series C Preferred Basic
Maintenance Amount, and on the third Business Day after the
Series C Preferred Basic Maintenance Cure Date with respect to
such Valuation Date, the Corporation  shall complete and
deliver to S&P and the Auction Agent (if S&P is then rating
the Series C Preferred Shares at the Corporation's request) a
Series C Preferred Basic Maintenance Report as of the date of
such failure or such Series C Preferred Basic Maintenance Cure
Date, as the case may be, which will be deemed to have been
delivered to S&P or the Auction Agent, as the case may be, if
S&P or the Auction Agent receives a copy or facsimile or other
electronic transcription or transmission thereof (via
facsimile or electronic mail solely in the case of S&P if S&P
is then rating the Series C Preferred Shares at the
Corporation's request) and on the same day the Corporation
mails or sends to S&P or the Auction Agent for delivery on the
next Business Day the full Series C Preferred Basic
Maintenance Report.  The Corporation shall also deliver a
Series C Preferred Basic Maintenance Report to (1) S&P, during
each of the first twelve months the Series C Preferred Shares
are Outstanding, and to the Auction Agent (if S&P is then
rating the Series C Preferred Shares at the Corporation's
request) as of (a) the fifteenth day of each month (or, if
such day is not a Business Day, the next succeeding Business
Day) and (b) the last Business Day of each month and to (2)
S&P as of each Valuation Date, in each case on or before the
fifth Business Day after such day, (3) upon reasonable request
by S&P and (4) any day the Common Shares and Series C
Preferred Shares are redeemed.  So long as S&P requires
delivery of a Series C Preferred Basic Maintenance Report, a
failure by the Corporation to deliver a Series C Preferred
Basic Maintenance Report pursuant to the preceding sentence
shall be deemed to be delivery of a Series C Preferred Basic
Maintenance Report indicating the Discounted Value for all
assets of the Corporation is less than the Series C Preferred
Basic Maintenance Amount, as of the relevant Valuation Date.

			(C)	The Corporation will provide S&P annually a
copy of its pricing procedures used in determining the Market
Value of the Corporation's assets.

			(D)	On or before 5:00 p.m., New York City time,
on the fifth Business Day after the Date of Original Issue of
Series C Preferred Shares, the Corporation shall complete and
deliver to S&P a Series C Preferred Basic Maintenance Report
as of the close of business on such Date of Original Issue.

			(E)	On or before 5:00 p.m., New York City time,
on the third Business Day after either (1) the Corporation
shall have redeemed Series C Preferred Shares or (2) the ratio
of the Discounted Value of Eligible Assets in respect of S&P
to the Series C Preferred Basic Maintenance Amount is less
than or equal to 110%, the Corporation shall complete and
deliver in electronic format to S&P a Series C Preferred Basic
Maintenance Report as of the date of either such event.

	SECOND:  The definition of "Accountant's Confirmation" in
Article I.13 of the Articles Supplementary is hereby deleted
from the Articles.

	THIRD:  The amendments set forth in these Articles of
Amendment were duly approved by the Board of Directors of the
Corporation in accordance with Article III of the Articles
Supplementary and the Maryland General Corporation Law.  No
stock entitled to be voted on the matter was outstanding or
subscribed for at the time of the approval of the amendments
set forth in these Articles of Amendment.

	FOURTH:  The amendments contemplated by these Articles of
Amendment do not increase the authorized stock of the
Corporation or the aggregate par value thereof.


[Remainder of page intentionally left blank]


	The undersigned President of The Gabelli Equity Trust
Inc., who executed these Articles of Amendment on behalf of
the Corporation, hereby acknowledges, in the name and on
behalf of the Corporation, that these Articles of Amendment
are the corporate act of the Corporation and states further,
under the penalties of perjury, that to the best of his
knowledge, information and belief, the matters and facts set
forth herein with respect to authorization and approval are
true in all material respects.

	IN WITNESS WHEREOF, The Gabelli Equity Trust Inc. has
caused these Articles of Amendment to be signed in its name
and on its behalf by its President and witnessed by its
Secretary as of this 15th day of November, 2012.


WITNESS:						THE GABELLI EQUITY TRUST
INC.

By:	/s/ Agnes Mullady				By:	/s/ Bruce N. Alpert
	Name:  Agnes Mullady				Name:  Bruce N. Alpert
	Title:  Secretary					Title:  President






[PAGE BREAK]




THE GABELLI EQUITY TRUST INC.

ARTICLES OF AMENDMENT TO THE
ARTICLES SUPPLEMENTARY
CREATING AND FIXING THE RIGHTS OF
5.875% SERIES D CUMULATIVE PREFERRED STOCK

	The Gabelli Equity Trust Inc., a Maryland corporation
(hereinafter called the "Corporation"), hereby certifies to
the State of Department of Assessments and Taxation of the
State of Maryland that:

	FIRST:  Article II of the Articles Supplementary, Section
6 (a) (ii), subsection B through E, require delivery to
Moody's of periodic "Basic Maintenance Reports," and an
"Accountant's Confirmation" of certain "Basic Maintenance
Reports."  Moody's has advised the Corporation that the
delivery of such Reports and Confirmations shall no longer be
required.  Accordingly, subsections B, C, D and E of Section
6(a)(ii) in Article II of the Articles Supplementary are
hereby deleted in their entirety from the Articles.

	SECOND:  The definition of "Accountant's Confirmation" in
Article I of the Articles Supplementary is hereby deleted from
the Articles.

	THIRD:  The definition of "Basic Maintenance Report" or
"Report" in Article I of the Articles Supplementary is hereby
deleted from the Articles.

	FOURTH:  The amendments set forth in these Articles of
Amendment were duly approved by the Board of Directors of the
Corporation in accordance with Article III of the Articles
Supplementary and the Maryland General Corporation Law.  No
stock entitled to be voted on the matter was outstanding or
subscribed for at the time of the approval of the amendments
set forth in these Articles of Amendment.

	FIFTH:  The amendments contemplated by these Articles of
Amendment do not increase the authorized stock of the
Corporation or the aggregate par value thereof.


[Remainder of page intentionally left blank]

	The undersigned President of The Gabelli Equity Trust
Inc., who executed these Articles of Amendment on behalf of
the Corporation, hereby acknowledges, in the name and on
behalf of the Corporation, that these Articles of Amendment
are the corporate act of the Corporation and states further,
under the penalties of perjury, that to the best of his
knowledge, information and belief, the matters and facts set
forth herein with respect to authorization and approval are
true in all material respects.

	IN WITNESS WHEREOF, The Gabelli Equity Trust Inc. has
caused these Articles of Amendment to be signed in its name
and on its behalf by its President and witnessed by its
Secretary as of this 15th day of November, 2012.


WITNESS:						THE GABELLI EQUITY TRUST
INC.

By:	/s/ Agnes Mullady				By:	/s/ Bruce N. Alpert
	Name:  Agnes Mullady			Name:  Bruce N. Alpert
	Title:  Secretary					Title:  President





[PAGE BREAK]







THE GABELLI EQUITY TRUST INC.

ARTICLES OF AMENDMENT TO THE
ARTICLES SUPPLEMENTARY
CREATING AND FIXING THE RIGHTS OF
SERIES E AUCTION RATE PREFERRED STOCK

	The Gabelli Equity Trust Inc., a Maryland corporation
(hereinafter called the "Corporation"), hereby certifies to
the State of Department of Assessments and Taxation of the
State of Maryland that:

	FIRST:  Article I of the Articles Supplementary, Section
9(a)(ii), subsections B through F, require delivery to Moody's
and S&P of periodic "Basic Maintenance Reports," and an
"Accountant's Confirmation" of certain "Basic Maintenance
Reports."  Moody's has advised the Corporation that the
delivery of such Reports and Confirmations by it shall no
longer be required.  S&P has advised the Corporation that it
will no longer require the Accountant Confirmation.
Accordingly, the text of Section 9(a)(ii) in Article I of the
Articles Supplementary is hereby deleted in its entirety from
the Articles, and replaced by the following:

			(ii)	Basic Maintenance Amount as follows:

(A)		For so long as the Series E Preferred
Stock is rated by Moody'
and/or S&P at the Corporation's request, the Corporation shall
maintain, on each Valuation Date, Eligible Assets having an
Adjusted Value at least equal to the Basic Maintenance Amount,
as of such Valuation Date.  Upon any failure to maintain
Eligible Assets having an Adjusted Value at least equal to the
Basic Maintenance Amount, the Corporation shall use all
commercially reasonable efforts to re-attain Eligible Assets
having an Adjusted Value at least equal to the Basic
Maintenance Amount on or prior to the Basic Maintenance Amount
Cure Date, by altering the composition of its portfolio or
otherwise.

(B)		On or before 5:00P.M., New York City
time, on the third Day after
a Valuation Date on which the Corporation fails to satisfy the
Basic Maintenance Amount, and on the third Business Day after
the Basic Maintenance Amount Cure Date with respect to such
Valuation Date, the Corporation shall complete and deliver to
S&P (if S&P is then rating the Series E Preferred Stock at the
Corporation's request) a Basic Maintenance Report as of the
date of such failure or such Basic Maintenance Amount Cure
Date, as the case may be, which will be deemed to have been
delivered to S&P if S&P receives a copy or facsimile or other
electronic transcription or transmission thereof (via
facsimile or electronic mail solely in the case of S&P if S&P
is then rating the Series E Preferred Stock at the
Corporation's request) and on the same day the Corporation
mails or sends to S&P for delivery on the next Business Day
the full Basic Maintenance Report.  The Corporation shall also
deliver a Basic Maintenance Report to (1) S&P as of each
Valuation Date, in each case on or before the fifth Business
Day after such day, (2) upon reasonable request by S&P and (3)
any day the Common Stock and Series E Preferred Stock are
redeemed.  So long as S&P requires delivery of a Basic
Maintenance Report, a failure by the Corporation to deliver a
Basic Maintenance Report pursuant to the preceding sentence
shall be deemed to be delivery of a Basic Maintenance Report
indicating the Discounted Value for all assets of the
Corporation is less than the Basic Maintenance Amount, as of
the relevant Valuation Date.

(C)		The Corporation will provide S&P
annually a copy of its pricing
procedures used in determining the Market Value of the
Corporation's assets.

			(D)	On or before 5:00 p.m., New York city time,
on the fifth Business Day after the Date of the Original Issue
of Series E Preferred Stock, the Corporation shall complete
and deliver to S&P a Basic Maintenance Report as of the close
of business on such Date of Original Issue.

			(E)	On or before 5:00 p.m., New York City time,
on the third Business Day after either (1) the Corporation
shall have redeemed Series E Preferred Stock or (2) the ratio
of the Discounted Value of Eligible Assets in respect of S&P
to the Basic Maintenance Amount is less than or equal to 110%,
the Corporation shall complete and deliver in electronic
format to S&P a Basic Maintenance Report as of the date of
either such event.

			(F)	As for any Valuation Date for which the
Corporation's ratio of the Discounted Value of Eligible Assets
in respect of S&P to the Basic Maintenance Amount is less than
or equal to 110%, the Corporation shall deliver, by fax or
email before 5:00 p.m. New York City time on the first
Business Day following such Valuation Date, notice of such
ratio to each Rating Agency.

	SECOND:  The definition of "Accountant's Confirmation" in
Article I.13 of the Articles Supplementary is hereby deleted
from the Articles.

	THIRD:  The amendments set forth in these Articles of
Amendment were duly approved by the Board of Directors of the
Corporation in accordance with Article III of the Articles
Supplementary and the Maryland General Corporation Law.  No
stock entitled to be voted on the matter was outstanding or
subscribed for at the time of the approval of the amendments
set forth in these Articles of Amendment.

	FOURTH:  The amendments contemplated by these Articles of
Amendment do not increase the authorized stock of the
Corporation or the aggregate par value thereof.


[Remainder of page intentionally left blank]

	The undersigned President of The Gabelli Equity Trust
Inc., who executed these Articles of Amendment on behalf of
the Corporation, hereby acknowledges, in the name and on
behalf of the Corporation, that these Articles of Amendment
are the corporate act of the Corporation and states further,
under the penalties of perjury, that to the best of his
knowledge, information and belief, the matters and facts set
forth herein with respect to authorization and approval are
true in all material respects.

	IN WITNESS WHEREOF, The Gabelli Equity Trust Inc. has
caused these Articles of Amendment to be signed in its name
and on its behalf by its President and witnessed by its
Secretary as of this 15th day of November, 2012.


WITNESS:						THE GABELLI EQUITY TRUST
INC.

By:	/s/ Agnes Mullady				By:	/s/ Bruce N. Alpert
	Name:  Agnes Mullady				Name:  Bruce N. Alpert
	Title:  Secretary					Title:  President




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