<SEC-DOCUMENT>0001752724-25-055919.txt : 20250314
<SEC-HEADER>0001752724-25-055919.hdr.sgml : 20250314
<ACCEPTANCE-DATETIME>20250314090331
ACCESSION NUMBER:		0001752724-25-055919
CONFORMED SUBMISSION TYPE:	N-CEN
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20241231
FILED AS OF DATE:		20250314
DATE AS OF CHANGE:		20250314
EFFECTIVENESS DATE:		20250314

FILER:

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

	FILING VALUES:
		FORM TYPE:		N-CEN
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04700
		FILM NUMBER:		25737833

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORP CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		9149215070
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CEN
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/ncen" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0404</schemaVersion>
  <headerData>
    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0000794685</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
        <fileNumber>811-04700</fileNumber>
      </filer>
      <flags>
        <returnCopyFlag>false</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-2</investmentCompanyType>
    </filerInfo>
  </headerData>
  <formData>
    <generalInfo reportEndingPeriod="2024-12-31" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>Gabelli Equity Trust Inc</registrantFullName>
      <investmentCompFileNo>811-04700</investmentCompFileNo>
      <registrantCik>0000794685</registrantCik>
      <registrantLei>54930036JZVAIXXFZV64</registrantLei>
      <registrantstreet1>One Corporate Center</registrantstreet1>
      <registrantcity>Rye</registrantcity>
      <registrantzipCode>10580-1422</registrantzipCode>
      <registrantstate>US-NY</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>1-800-422-3554</registrantphoneNumber>
      <websites>
        <website webpage="http://gabelli.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>The Bank of New York Mellon</officeName>
          <officeAddress1>240 Greenwich Street</officeAddress1>
          <officeCity>New York</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-NY"/>
          <officeRecordsZipCode>10286</officeRecordsZipCode>
          <officePhone>212-495-1784</officePhone>
          <booksRecordsDesc>Custody</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>BNY Mellon Investment Servicing (US) Inc.</officeName>
          <officeAddress1>500 Ross Street</officeAddress1>
          <officeCity>Pittsburgh</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-PA"/>
          <officeRecordsZipCode>15262</officeRecordsZipCode>
          <officePhone>412-234-5000</officePhone>
          <booksRecordsDesc>Accounting</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Computershare Trust Company, N.A.</officeName>
          <officeAddress1>462 South 4th Street</officeAddress1>
          <officeCity>Louisville</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-KY"/>
          <officeRecordsZipCode>40202</officeRecordsZipCode>
          <officePhone>502-301-6000</officePhone>
          <booksRecordsDesc>Transfer Agent</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Gabelli Funds, LLC</officeName>
          <officeAddress1>One Corporate Center</officeAddress1>
          <officeCity>Rye</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-NY"/>
          <officeRecordsZipCode>10580-1422</officeRecordsZipCode>
          <officePhone>914-921-5100</officePhone>
          <booksRecordsDesc>Accounting</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <registrantFamilyInvComp isRegistrantFamilyInvComp="Y" familyInvCompFullName="Gabelli Fund Complex"/>
      <registrantClassificationType>N-2</registrantClassificationType>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>Leslie F. Foley</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21529"/>
            <fileNumberInfo fileNumber="811-04719"/>
            <fileNumberInfo fileNumber="811-09243"/>
            <fileNumberInfo fileNumber="811-22021"/>
            <fileNumberInfo fileNumber="811-21969"/>
            <fileNumberInfo fileNumber="811-05715"/>
            <fileNumberInfo fileNumber="811-23568"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Frank J. Fahrenkopf, Jr.</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21423"/>
            <fileNumberInfo fileNumber="811-08476"/>
            <fileNumberInfo fileNumber="811-22216"/>
            <fileNumberInfo fileNumber="811-04656"/>
            <fileNumberInfo fileNumber="811-02151"/>
            <fileNumberInfo fileNumber="811-22884"/>
            <fileNumberInfo fileNumber="811-23395"/>
            <fileNumberInfo fileNumber="811-21698"/>
            <fileNumberInfo fileNumber="811-09243"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Agnes Mullady</directorName>
          <crdNumber>001732384</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-22884"/>
            <fileNumberInfo fileNumber="811-22216"/>
            <fileNumberInfo fileNumber="811-21969"/>
            <fileNumberInfo fileNumber="811-05715"/>
            <fileNumberInfo fileNumber="811-21698"/>
            <fileNumberInfo fileNumber="811-22021"/>
            <fileNumberInfo fileNumber="811-23568"/>
            <fileNumberInfo fileNumber="811-21423"/>
            <fileNumberInfo fileNumber="811-02151"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Laura Linehan</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="N/A"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Elizabeth C. Bogan</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21698"/>
            <fileNumberInfo fileNumber="811-06367"/>
            <fileNumberInfo fileNumber="811-04656"/>
            <fileNumberInfo fileNumber="811-21423"/>
            <fileNumberInfo fileNumber="811-08476"/>
            <fileNumberInfo fileNumber="811-09243"/>
            <fileNumberInfo fileNumber="811-02151"/>
            <fileNumberInfo fileNumber="811-06687"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>William F. Heitmann</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-07644"/>
            <fileNumberInfo fileNumber="811-22216"/>
            <fileNumberInfo fileNumber="811-22026"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Mario J. Gabelli</directorName>
          <crdNumber>000216136</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-06687"/>
            <fileNumberInfo fileNumber="811-09243"/>
            <fileNumberInfo fileNumber="811-22884"/>
            <fileNumberInfo fileNumber="811-04873"/>
            <fileNumberInfo fileNumber="811-09397"/>
            <fileNumberInfo fileNumber="811-23395"/>
            <fileNumberInfo fileNumber="811-22021"/>
            <fileNumberInfo fileNumber="811-02151"/>
            <fileNumberInfo fileNumber="811-09377"/>
            <fileNumberInfo fileNumber="811-05848"/>
            <fileNumberInfo fileNumber="811-07644"/>
            <fileNumberInfo fileNumber="811-08518"/>
            <fileNumberInfo fileNumber="811-07896"/>
            <fileNumberInfo fileNumber="811-08476"/>
            <fileNumberInfo fileNumber="811-08560"/>
            <fileNumberInfo fileNumber="811-04494"/>
            <fileNumberInfo fileNumber="811-22026"/>
            <fileNumberInfo fileNumber="811-07326"/>
            <fileNumberInfo fileNumber="811-21969"/>
            <fileNumberInfo fileNumber="811-06367"/>
            <fileNumberInfo fileNumber="811-04656"/>
            <fileNumberInfo fileNumber="811-21423"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>James P. Conn</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21698"/>
            <fileNumberInfo fileNumber="811-04494"/>
            <fileNumberInfo fileNumber="811-04719"/>
            <fileNumberInfo fileNumber="811-21423"/>
            <fileNumberInfo fileNumber="811-22021"/>
            <fileNumberInfo fileNumber="811-21969"/>
            <fileNumberInfo fileNumber="811-21761"/>
            <fileNumberInfo fileNumber="811-02151"/>
            <fileNumberInfo fileNumber="811-22884"/>
            <fileNumberInfo fileNumber="811-09243"/>
            <fileNumberInfo fileNumber="811-08476"/>
            <fileNumberInfo fileNumber="811-04656"/>
            <fileNumberInfo fileNumber="811-22041"/>
            <fileNumberInfo fileNumber="811-04873"/>
            <fileNumberInfo fileNumber="811-22216"/>
            <fileNumberInfo fileNumber="811-21529"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Michael J. Ferrantino</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-23568"/>
            <fileNumberInfo fileNumber="811-09243"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Salvatore J. Zizza</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-04719"/>
            <fileNumberInfo fileNumber="811-04873"/>
            <fileNumberInfo fileNumber="811-07896"/>
            <fileNumberInfo fileNumber="811-08518"/>
            <fileNumberInfo fileNumber="811-22216"/>
            <fileNumberInfo fileNumber="811-22884"/>
            <fileNumberInfo fileNumber="811-08560"/>
            <fileNumberInfo fileNumber="811-08476"/>
            <fileNumberInfo fileNumber="811-04494"/>
            <fileNumberInfo fileNumber="811-23568"/>
            <fileNumberInfo fileNumber="811-21969"/>
            <fileNumberInfo fileNumber="811-21529"/>
            <fileNumberInfo fileNumber="811-22021"/>
            <fileNumberInfo fileNumber="811-05715"/>
            <fileNumberInfo fileNumber="811-09243"/>
            <fileNumberInfo fileNumber="811-21423"/>
            <fileNumberInfo fileNumber="811-22041"/>
            <fileNumberInfo fileNumber="811-21698"/>
            <fileNumberInfo fileNumber="811-06367"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Eileen Nakamura</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21529"/>
            <fileNumberInfo fileNumber="811-22041"/>
            <fileNumberInfo fileNumber="811-04494"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Richard J. Walz</ccoName>
          <crdNumber>001392836</crdNumber>
          <ccoStreet1>One Corporate Center</ccoStreet1>
          <ccoCity>Rye</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-NY"/>
          <ccoZipCode>10580</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="N/A" ccoEmployerId="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <releaseNumbers isExemptionFromAct="Y">
        <releaseNumberInfo releaseNumber="IC-25070"/>
      </releaseNumbers>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>PricewaterhouseCoopers LLP</publicAccountantName>
          <pcaobNumber>238</pcaobNumber>
          <publicAccountantLei>5493002GVO7EO8RNNS37</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantCountry="US" publicAccountantState="US-NY"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentErrorInNetAssetValue>N</isPaymentErrorInNetAssetValue>
      <paymentDividendSeries isPaymentDividend="Y"/>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Gabelli Equity Trust Inc</mgmtInvFundName>
        <mgmtInvLei>54930036JZVAIXXFZV64</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="The Gabelli Equity Trust, Inc." sharesOutstandingClassId="C000000000" sharesOutstandingTickerSymbol="GAB"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Gabelli Funds, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-37706</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000104949</investmentAdviserCrdNo>
            <investmentAdviserLei>549300JDTNRQK8NMTG03</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Computershare Trust Company, N.A.</transferAgentName>
            <transferAgentFileNo>85-11340</transferAgentFileNo>
            <transferAgentLei>2549001YYB62BVMSAO13</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-KY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>The Bank of New York Mellon</custodianName>
            <custodianLei>HPFHU0OQ28E4N0NFVK49</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Computershare Trust Company, N.A.</shareholderServiceAgentName>
            <shareholderServiceAgentLei>2549001YYB62BVMSAO13</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-KY" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Gabelli Funds, LLC</adminName>
            <adminLei>549300JDTNRQK8NMTG03</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>BNY Mellon Investment Servicing (US) Inc.</adminName>
            <adminLei>549300CFZQLI9QMJ1Z03</adminLei>
            <adminStateCountry adminState="US-PA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>G.distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>008-68697</brokerDealerFileNo>
            <brokerDealerCrdNo>000155071</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>G.Research, LLC</brokerDealerName>
            <brokerDealerFileNo>008-21373</brokerDealerFileNo>
            <brokerDealerCrdNo>000007353</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>PIPER SANDLER &amp; CO.</brokerName>
            <brokerFileNo>008-15204</brokerFileNo>
            <brokerCrdNo>000000665</brokerCrdNo>
            <brokerLei>549300GRQCWQ3XGH0H10</brokerLei>
            <brokerStateCountry brokerState="US-MN" brokerCountry="US"/>
            <grossCommission>60467.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>TD SECURITIES (USA) LLC</brokerName>
            <brokerFileNo>008-36747</brokerFileNo>
            <brokerCrdNo>000018476</brokerCrdNo>
            <brokerLei>SUVUFHICNZMP2WKHG940</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>35215.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>RBC CAPITAL MARKETS, LLC</brokerName>
            <brokerFileNo>008-45411</brokerFileNo>
            <brokerCrdNo>000031194</brokerCrdNo>
            <brokerLei>549300LCO2FLSSVFFR64</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>8322.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>008-00129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>10004.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>ALLIANCEBERNSTEIN L.P.</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>000108477</brokerCrdNo>
            <brokerLei>0JK55UGWSWNF3X7KLQ85</brokerLei>
            <brokerStateCountry brokerState="US-DE" brokerCountry="US"/>
            <grossCommission>8402.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>KEEFE, BRUYETTE &amp; WOODS, INC.</brokerName>
            <brokerFileNo>008-10888</brokerFileNo>
            <brokerCrdNo>000000481</brokerCrdNo>
            <brokerLei>549300OM47DQV01G4854</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>19648.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>JP MORGAN SECURITIES LLC</brokerName>
            <brokerFileNo>008-35008</brokerFileNo>
            <brokerCrdNo>000000079</brokerCrdNo>
            <brokerLei>ZBUT11V806EZRVTWT807</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>23181.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>MORGAN STANLEY &amp; CO. LLC</brokerName>
            <brokerFileNo>008-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>9357.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>JEFFERIES LLC</brokerName>
            <brokerFileNo>008-15074</brokerFileNo>
            <brokerCrdNo>000002347</brokerCrdNo>
            <brokerLei>58PU97L1C0WSRCWADL48</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>7904.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL, INC.</brokerName>
            <brokerFileNo>008-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>8497.00000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>266301.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>RBC CAPITAL MARKETS, LLC</principalName>
            <principalFileNo>008-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>13921420.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>008-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>29932249.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Nesbitt Burns Securities Ltd.</principalName>
            <principalFileNo>008-50538</principalFileNo>
            <principalCrdNo>000044057</principalCrdNo>
            <principalLei>54JEJPF5RL5INKZRDO43</principalLei>
            <principalCountry>CA</principalCountry>
            <principalTotalPurchaseSale>250206091.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Bansk Group</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000312320</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2300820.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Arcline Investment Management, L.P</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000299352</principalCrdNo>
            <principalLei>254900LM936DDD0SWB56</principalLei>
            <principalStateCountry principalState="US-TN" principalCountry="US"/>
            <principalTotalPurchaseSale>1720400.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CENTERBRIDGE PARTNERS, L.P.</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>549300ZL7JBNXD8MIL95</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>10693200.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL, INC.</principalName>
            <principalFileNo>008-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>169078713.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Daiwa Capital Markets America, Inc.</principalName>
            <principalFileNo>008-12242</principalFileNo>
            <principalCrdNo>000001576</principalCrdNo>
            <principalLei>M67H5PRC0NQKM73ZAS82</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>44294845.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MIDDLEGROUND CAPITAL</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000297235</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-KY" principalCountry="US"/>
            <principalTotalPurchaseSale>4371300.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>NOMURA SECURITIES INTERNATIONAL, INC.</principalName>
            <principalFileNo>008-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>81712379.00000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>609037276.00000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>2003746391.00000000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <closedEndManagementInvestment>
      <securityRelatedItems>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>The Gabelli Equity Trust, Inc.</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="GAB"/>
          </commonStocks>
        </securityRelatedItem>
        <securityRelatedItem>
          <description>Preferred stock</description>
          <securityClassTitle>5.00% Series G Cumulative Preferred Stock</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="GAB(PrG)"/>
          </commonStocks>
        </securityRelatedItem>
        <securityRelatedItem>
          <description>Preferred stock</description>
          <securityClassTitle>4.25% Series M Cumulative Preferred Stock</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="GAB(PrM)"/>
          </commonStocks>
        </securityRelatedItem>
        <securityRelatedItem>
          <description>Preferred stock</description>
          <securityClassTitle>5.00% Series H Cumulative Preferred Stock</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="GAB(PrH)"/>
          </commonStocks>
        </securityRelatedItem>
        <securityRelatedItem>
          <description>Preferred stock</description>
          <securityClassTitle>5.25% Series N Cumulative Preferred Stock</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="GAB(PrN)"/>
          </commonStocks>
        </securityRelatedItem>
        <securityRelatedItem>
          <description>Preferred stock</description>
          <securityClassTitle>5.00% Series K Cumulative Preferred Stock</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="GAB(PrK)"/>
          </commonStocks>
        </securityRelatedItem>
      </securityRelatedItems>
      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <isRepurchaseSecurity>N</isRepurchaseSecurity>
      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
      <managementFee>1.24000000</managementFee>
      <netOperatingExpenses>1.61000000</netOperatingExpenses>
      <marketPricePerShare>5.38000000</marketPricePerShare>
      <netAssetValuePerShare>5.24000000</netAssetValuePerShare>
    </closedEndManagementInvestment>
    <attachmentsTab>
      <isLegalProceedings>false</isLegalProceedings>
      <isProvisionFinancialSupport>false</isProvisionFinancialSupport>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isChangeAccPrinciples>false</isChangeAccPrinciples>
      <isInfoRequiredEO>false</isInfoRequiredEO>
      <isOtherInfoRequired>false</isOtherInfoRequired>
      <isMaterialAmendments>false</isMaterialAmendments>
      <isInstDefiningRights>false</isInstDefiningRights>
      <isNewOrAmendedInvAdvContracts>false</isNewOrAmendedInvAdvContracts>
      <isInfoItem405>false</isInfoItem405>
      <isCodeOfEthics>false</isCodeOfEthics>
    </attachmentsTab>
    <signature registrantSignedName="Gabelli Equity Trust Inc" signedDate="2025-03-14" signature="John C. Ball" title="President and Treasurer"/>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>2
<FILENAME>internalcontrolrpt_gab.htm
<TEXT>
<html>
    <head>
        <title>Converted from PDF</title>
    </head>
    <body>
        <br>
        Report of Independent Registered Public Accounting Firm<br>
        <br>
        To the Board of Directors and Stockholders of The Gabelli Equity Trust Inc.<br>
        <br>
        In planning and performing our audit of the financial statements of The Gabelli Equity Trust Inc. (the &ldquo;Fund&rdquo;) as of and for the year ended December 31, 2024, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (&ldquo;PCAOB&rdquo;), we considered the Fund&rsquo;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-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund&rsquo;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.<br>
        <br>
        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 company&rsquo;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 company&rsquo;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 company; (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 company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company&rsquo;s assets that could have a material effect on the financial statements.<br>
        <br>
        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.<br>
        <br>
        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 company&rsquo;s annual or interim financial statements will not be prevented or detected on a timely basis.<br>
        <br>
        Our consideration of the Fund&rsquo;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 PCAOB. However, we noted no deficiencies in the Fund&rsquo;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, 2024.<br>
        <br>
        This report is intended solely for the information and use of 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.<br>
        <br>
        /s/PricewaterhouseCoopers LLP&#160;<br>
        New York, New York<br>
        March 1, 2025<br>
        <br>
        <br>
        PricewaterhouseCoopers LLP, PricewaterhouseCoopers Center, 300 Madison Avenue, New York, NY 10017 T: (646) 471 3000, F: (813) 286 6000, www.pwc.com/us<br>
        <div>&#160;</div>
    </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
