Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) Sees Large Drop in Short Interest

Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) was the recipient of a large decrease in short interest in August. As of August 14th, there was short interest totaling 1,596 shares, a decrease of 88.9% from the July 30th total of 14,407 shares. Based on an average daily trading volume, of 5,382 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.2% of the shares of the stock are short sold.

Gabelli Commercial Aerospace & Defense ETF Price Performance

Gabelli Commercial Aerospace & Defense ETF stock traded up $0.48 during mid-day trading on Wednesday, hitting $52.93. 4,713 shares of the company were exchanged, compared to its average volume of 6,482. Gabelli Commercial Aerospace & Defense ETF has a 12-month low of $42.90 and a 12-month high of $59.11. The company has a market capitalization of $42.34 million, a P/E ratio of 29.49 and a beta of 0.87. The business’s 50 day simple moving average is $55.49 and its two-hundred day simple moving average is $53.70.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new stake in shares of Gabelli Commercial Aerospace & Defense ETF during the 1st quarter worth about $30,000. Gabelli Funds LLC acquired a new position in shares of Gabelli Commercial Aerospace & Defense ETF in the fourth quarter valued at approximately $696,000. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Gabelli Commercial Aerospace & Defense ETF by 218.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 154,194 shares of the company’s stock valued at $7,158,000 after buying an additional 105,800 shares during the period.

About Gabelli Commercial Aerospace & Defense ETF

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.