Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) Short Interest Up 242.9% in May

Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) saw a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 4,681 shares, an increase of 242.9% from the April 30th total of 1,365 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average trading volume of 10,074 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Gabelli Commercial Aerospace & Defense ETF

A number of institutional investors and hedge funds have recently made changes to their positions in GCAD. Parallel Advisors LLC bought a new position in shares of Gabelli Commercial Aerospace & Defense ETF during the first quarter worth approximately $30,000. Gabelli Funds LLC bought a new position in shares of Gabelli Commercial Aerospace & Defense ETF during the fourth quarter worth approximately $696,000. Finally, Gamco Investors INC. ET AL increased its stake in shares of Gabelli Commercial Aerospace & Defense ETF by 14.4% during the first quarter. Gamco Investors INC. ET AL now owns 176,429 shares of the company’s stock worth $8,774,000 after purchasing an additional 22,235 shares during the period.

Gabelli Commercial Aerospace & Defense ETF Price Performance

Shares of GCAD stock traded down $0.02 on Friday, reaching $55.04. 1,997 shares of the stock were exchanged, compared to its average volume of 5,412. The stock has a market cap of $33.02 million, a PE ratio of 29.49 and a beta of 0.86. Gabelli Commercial Aerospace & Defense ETF has a one year low of $38.88 and a one year high of $56.99. The stock has a 50 day moving average price of $51.68 and a 200 day moving average price of $50.50.

Gabelli Commercial Aerospace & Defense ETF Company Profile

The Gabelli Commercial Aerospace & Defense ETF (GCAD) is an exchange-traded fund that mostly invests in industrials equity. The fund is an actively managed, non-transparent ETF that invests in income-producing equities in the US aerospace and defense industry. The fund utilizes the Precidian non-transparent model GCAD was launched on Jan 3, 2023 and is managed by Gabelli.