The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) Sees Large Decrease in Short Interest

The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 13,600 shares, a decline of 32.3% from the September 30th total of 20,100 shares. Based on an average daily trading volume, of 12,300 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily trading volume, of 12,300 shares, the days-to-cover ratio is currently 1.1 days.

The Gabelli Global Small and Mid Cap Value Trust Stock Up 0.3%

NYSE GGZ opened at $14.10 on Friday. The Gabelli Global Small and Mid Cap Value Trust has a twelve month low of $10.50 and a twelve month high of $14.86. The stock has a 50-day moving average of $14.33 and a 200 day moving average of $13.50.

The Gabelli Global Small and Mid Cap Value Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 16th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.64 dividend on an annualized basis and a yield of 4.5%.

Insider Activity

In related news, insider Mario J. Gabelli acquired 750,000 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was acquired at an average price of $10.00 per share, with a total value of $7,500,000.00. Following the acquisition, the insider directly owned 750,000 shares in the company, valued at $7,500,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On The Gabelli Global Small and Mid Cap Value Trust

Large investors have recently bought and sold shares of the business. Almitas Capital LLC acquired a new position in The Gabelli Global Small and Mid Cap Value Trust in the 1st quarter worth about $130,000. Landscape Capital Management L.L.C. acquired a new position in The Gabelli Global Small and Mid Cap Value Trust in the 1st quarter worth about $135,000. Silverlake Wealth Management LLC raised its holdings in The Gabelli Global Small and Mid Cap Value Trust by 32.0% in the 2nd quarter. Silverlake Wealth Management LLC now owns 18,658 shares of the company’s stock worth $249,000 after purchasing an additional 4,524 shares during the period. Cornerstone Advisors LLC increased its stake in The Gabelli Global Small and Mid Cap Value Trust by 227.0% during the 1st quarter. Cornerstone Advisors LLC now owns 21,181 shares of the company’s stock worth $254,000 after buying an additional 14,704 shares in the last quarter. Finally, Beckerman Institutional LLC purchased a new stake in The Gabelli Global Small and Mid Cap Value Trust during the 1st quarter worth approximately $364,000.

The Gabelli Global Small and Mid Cap Value Trust Company Profile

The Gabelli Global Small and Mid Cap Value Trust 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 across the globe. The fund seeks to invest in stocks of companies that are operating across diversified sectors.