The Gabelli Equity Trust Inc. (NYSE:GAB – Get Free Report) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 159,600 shares, a growth of 448.5% from the October 15th total of 29,100 shares. Based on an average daily volume of 566,500 shares, the short-interest ratio is presently 0.3 days.
Hedge Funds Weigh In On The Gabelli Equity Trust
A number of large investors have recently modified their holdings of GAB. PFG Investments LLC lifted its stake in shares of The Gabelli Equity Trust by 2.3% during the third quarter. PFG Investments LLC now owns 83,651 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 1,869 shares in the last quarter. Magnus Financial Group LLC grew its position in The Gabelli Equity Trust by 2.7% in the second quarter. Magnus Financial Group LLC now owns 78,166 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 2,063 shares in the last quarter. Evernest Financial Advisors LLC raised its stake in shares of The Gabelli Equity Trust by 2.8% during the third quarter. Evernest Financial Advisors LLC now owns 99,398 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 2,663 shares during the period. Brookstone Capital Management grew its holdings in The Gabelli Equity Trust by 5.1% during the 2nd quarter. Brookstone Capital Management now owns 56,612 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 2,759 shares in the last quarter. Finally, IFG Advisory LLC increased its stake in The Gabelli Equity Trust by 11.7% during the 2nd quarter. IFG Advisory LLC now owns 31,486 shares of the financial services provider’s stock worth $164,000 after buying an additional 3,300 shares during the period. 7.24% of the stock is currently owned by hedge funds and other institutional investors.
The Gabelli Equity Trust Stock Performance
Shares of GAB stock remained flat at $5.57 on Wednesday. 312,394 shares of the company were exchanged, compared to its average volume of 573,938. The Gabelli Equity Trust has a 12-month low of $4.87 and a 12-month high of $5.74. The company’s fifty day moving average price is $5.46 and its 200 day moving average price is $5.42.
The Gabelli Equity Trust Announces Dividend
The Gabelli Equity Trust Company Profile
The Gabelli Equity Trust Inc is a closed ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in preferred stock, convertible or exchangeable securities, and warrants and rights.
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