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

Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 2,836 shares, a drop of 47.1% from the September 30th total of 5,356 shares. Based on an average daily trading volume, of 4,568 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Gabelli Funds LLC lifted its position in Gabelli Commercial Aerospace & Defense ETF by 783.3% in the first quarter. Gabelli Funds LLC now owns 132,500 shares of the company’s stock worth $6,589,000 after purchasing an additional 117,500 shares during the period. Gamco Investors INC. ET AL boosted its stake in 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 buying an additional 22,235 shares in the last quarter. National Wealth Management Group LLC increased its holdings in Gabelli Commercial Aerospace & Defense ETF by 33.6% in the 3rd quarter. National Wealth Management Group LLC now owns 62,905 shares of the company’s stock valued at $3,052,000 after buying an additional 15,829 shares during the period. NewEdge Advisors LLC bought a new stake in Gabelli Commercial Aerospace & Defense ETF in the 2nd quarter valued at $347,000. Finally, Parallel Advisors LLC bought a new stake in Gabelli Commercial Aerospace & Defense ETF in the 1st quarter valued at $30,000.

Gabelli Commercial Aerospace & Defense ETF Trading Down 2.3%

GCAD traded down $1.15 on Friday, hitting $48.86. 3,210 shares of the stock traded hands, compared to its average volume of 6,111. The business has a fifty day moving average price of $49.62 and a two-hundred day moving average price of $52.59. The firm has a market capitalization of $43.97 million, a PE ratio of 29.49 and a beta of 0.87. Gabelli Commercial Aerospace & Defense ETF has a 52 week low of $44.00 and a 52 week high of $59.11.

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.