A jewelry dealer was shaken up after he was shot at and pistol-whipped during a violent robbery in north Toronto on Friday afternoon.

The man in his 40s was attacked in a parking lot outside a wholesale jewelry outlet on Finch Avenue, west of Dufferin Street, over the noon hour.

Police said four masked men, one armed with a handgun, ran up to the victim and then grabbed his backpack, pistol-whipping him in the process.

The bag contained a large amount of jewelry, worth thousands of dollars.

Despite being assaulted, the victim jumped into his car and followed the suspects, who had jumped into a van.

The chase continued to the Keele Street and Wilson Avenue area, at which point the gunman fired a shot through the closed side window at the pursuing victim. The man was not hit by the bullet.

The suspects abandoned their vehicle behind a bank and fled on foot.

Heavily armed police officers and several tracking dogs scoured the area, and five nearby schools were temporarily locked down.

The jewelry dealer suffered cuts and scrapes and was taken to hospital for treatment.

Police say the four suspects may be responsible for several recent jewelry heists in York Region.

With a report from CTV Toronto's Jim Junkin