Gabelli Equity Trust Inc. (NYSE:GAB) Sees Large Decrease in Short Interest

Gabelli Equity Trust Inc. (NYSE:GAB) was the recipient of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 390,710 shares, a decrease of 44.6% from the July 30th total of 705,786 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 756,335 shares, the days-to-cover ratio is currently 0.5 days.

Gabelli Equity Trust Trading Up 0.2%

Shares of NYSE GAB traded up $0.01 during midday trading on Monday, hitting $5.67. The company’s stock had a trading volume of 611,019 shares, compared to its average volume of 1,031,392. Gabelli Equity Trust has a 12-month low of $5.28 and a 12-month high of $6.37. The business’s 50 day moving average is $5.67 and its two-hundred day moving average is $5.70.

Gabelli Equity Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $0.60 dividend on an annualized basis and a yield of 10.6%.

Institutional Trading of Gabelli Equity Trust

Large investors have recently made changes to their positions in the stock. Hilltop Holdings Inc. raised its holdings in shares of Gabelli Equity Trust by 9.6% in the third quarter. Hilltop Holdings Inc. now owns 19,756 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 1,724 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Gabelli Equity Trust by 6.5% in the second quarter. Baird Financial Group Inc. now owns 32,548 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 2,000 shares during the period. HighTower Advisors LLC grew its holdings in Gabelli Equity Trust by 2.6% during the 4th quarter. HighTower Advisors LLC now owns 83,820 shares of the financial services provider’s stock worth $517,000 after acquiring an additional 2,127 shares in the last quarter. Scotia Capital Inc. grew its holdings in Gabelli Equity Trust by 0.6% during the 3rd quarter. Scotia Capital Inc. now owns 462,353 shares of the financial services provider’s stock worth $2,816,000 after acquiring an additional 2,782 shares in the last quarter. Finally, Silver Oak Securities Incorporated increased its position in Gabelli Equity Trust by 16.5% during the 1st quarter. Silver Oak Securities Incorporated now owns 19,808 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 2,801 shares during the period. 7.24% of the stock is owned by hedge funds and other institutional investors.

Gabelli Equity Trust Company Profile

Gabelli Equity Trust, Inc (NYSE: GAB) is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.