Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Up 426.1% in May

Gabelli Equity Trust Inc. (NYSE:GAB) saw a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 135,871 shares, a growth of 426.1% from the May 14th total of 25,825 shares. Based on an average trading volume of 1,131,322 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are short sold.

Gabelli Equity Trust Price Performance

Shares of GAB traded up $0.07 during mid-day trading on Thursday, reaching $5.63. 690,776 shares of the company were exchanged, compared to its average volume of 1,102,726. The business has a 50 day simple moving average of $5.59 and a two-hundred day simple moving average of $5.89. Gabelli Equity Trust has a 52 week low of $5.28 and a 52 week high of $6.37.

Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 10.7%. The ex-dividend date is Monday, June 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. LPL Financial LLC increased its position in shares of Gabelli Equity Trust by 2.1% during the 4th quarter. LPL Financial LLC now owns 4,462,497 shares of the financial services provider’s stock valued at $27,534,000 after purchasing an additional 93,789 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Gabelli Equity Trust by 1.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,516,560 shares of the financial services provider’s stock worth $9,357,000 after purchasing an additional 28,926 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Gabelli Equity Trust by 1.1% in the fourth quarter. Cetera Investment Advisers now owns 674,300 shares of the financial services provider’s stock worth $4,160,000 after purchasing an additional 7,320 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Gabelli Equity Trust by 1.0% in the fourth quarter. Wells Fargo & Company MN now owns 641,300 shares of the financial services provider’s stock worth $3,957,000 after purchasing an additional 6,175 shares during the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Gabelli Equity Trust by 14.6% in the third quarter. Raymond James Financial Inc. now owns 635,163 shares of the financial services provider’s stock worth $3,868,000 after purchasing an additional 80,781 shares during the last quarter. Institutional investors own 7.24% of the company’s stock.

About Gabelli Equity Trust

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.