<SEC-DOCUMENT>0001387131-21-012399.txt : 20211230
<SEC-HEADER>0001387131-21-012399.hdr.sgml : 20211230
<ACCEPTANCE-DATETIME>20211230163022
ACCESSION NUMBER:		0001387131-21-012399
CONFORMED SUBMISSION TYPE:	N-23C-2
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20211230
FILED AS OF DATE:		20211230
DATE AS OF CHANGE:		20211230
EFFECTIVENESS DATE:		20211230

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:		N-23C-2
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	817-00171
		FILM NUMBER:		211533176

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORP CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		9149215070
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-23C-2
<SEQUENCE>1
<FILENAME>gab-n23c2_123021.htm
<DESCRIPTION>NOTICE BY CLOSED-END INVESTMENT COMPANIES OF INTENTION TO CALL OR REDEEM THEIR OWN SECURITIES
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_dxtcompanion_actionscomplete"></A>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES
AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">WASHINGTON, DC 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOTIFICATION OF REDEMPTION OF SECURITIES PURSUANT
TO </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RULE 23c-2 UNDER THE INVESTMENT COMPANY ACT OF 1940</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Investment Company Act File No. 811-04700</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THE GABELLI EQUITY TRUST INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name of Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>One Corporate Center</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Rye, New York 10580-1422</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Registrant's Telephone Number, including Area Code:
(914) 921-5070</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The undersigned registered closed-end investment company
hereby notifies the Securities and Exchange Commission that it intends to redeem securities of which it is the issuer, as set forth below
in accordance with the requirements of Rule 23c-2 under the Investment Company Act of 1940 (the &quot;Act&quot;), and states that it is
filing this notice with the Commission at least 30 days prior to the date set for the redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>(1)</B></TD><TD><B>Title of the class of securities of The Gabelli Equity Trust Inc. (the &quot;Fund&quot;) to be redeemed:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">5.45% Series J Cumulative Preferred Stock, par value $0.001 per share,
liquidation preference of $25.00 per share (the &quot;Series J Preferred Stock&quot;) (CUSIP #: 362397853).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>(2)</B></TD><TD><B>The date on which the securities are to be called or redeemed:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Series J Preferred Stock will be redeemed on January 31, 2022 (the
&quot;Redemption Date&quot;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>(3)</B></TD><TD><B>The applicable provisions of the governing instrument pursuant to which the securities are to be called or redeemed:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The shares of the Series J Preferred Stock are to be redeemed pursuant
to Article II, Sections 4(b) and 4(c) of the Fund's Articles Supplementary creating and fixing the rights of 5.45% Series J Cumulative
Preferred Stock, a copy of which was filed with the Securities and Exchange Commission on March 29, 2016 as Exhibit 99(a)(xxi) to Post-Effective
Amendment No. 3 to the Fund's Registration Statement on Form N-2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>(4)</B></TD><TD><B>The principal amount or number of shares and the basis upon which the securities to be redeemed are to be selected:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Fund intends to redeem 100% (3,200,000 shares) of its outstanding
Series J Preferred Stock. Holders of the Series J Preferred Stock will receive $25.132465 per share for each share of Series J Preferred
Stock redeemed (the &quot;Redemption Price&quot;), which consists of the liquidation preference of $25.00 per share together with accumulated
and unpaid dividends and distributions of $0.132465 per share through the Redemption Date. All shares of Series J Preferred Stock are held
in book-entry form through the Depository Trust Company (&quot;DTC&quot;), and such shares being redeemed will be redeemed in accordance
with the procedures of DTC. Payment by the Fund of the Redemption Price will be made to Computershare Trust Company, N.A., as paying
agent for this redemption.</P>
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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <U>SIGNATURE</U></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt">Pursuant to the requirement of
Rule 23c-2 of the Investment Company Act of 1940, the Fund has duly caused this Notification of Redemption of Securities to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of Rye, and the State of New York, on the 30<SUP>th</SUP> day
of December, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 50%; text-indent: 0">The Gabelli Equity Trust Inc.</P>

<P STYLE="text-indent: 0; font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 50%"><U>/s/ John C. Ball &#9;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 50%; text-indent: 0">By: &#9;&nbsp;&nbsp;&nbsp;John C. Ball</P>

<P STYLE="margin: 0 0 0 50%; font: 10pt Times New Roman, Times, Serif; text-indent: 0"> Title: &nbsp;Treasurer and Principal Financial</P>



<P STYLE="text-indent: 0; font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 50%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and Accounting Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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