Short Interest in Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) Rises By 633.3%

Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 37,332 shares, an increase of 633.3% from the May 31st total of 5,091 shares. Approximately 6.2% of the shares of the company are short sold. Based on an average daily trading volume, of 8,314 shares, the days-to-cover ratio is currently 4.5 days.

Hedge Funds Weigh In On Gabelli Commercial Aerospace & Defense ETF

A number of hedge funds and other institutional investors have recently modified their holdings of GCAD. Parallel Advisors LLC bought a new position in shares of Gabelli Commercial Aerospace & Defense ETF during the 1st quarter valued at $30,000. Gabelli Funds LLC bought a new position in shares of Gabelli Commercial Aerospace & Defense ETF during the fourth quarter valued at approximately $696,000. Finally, Gamco Investors INC. ET AL boosted its holdings in Gabelli Commercial Aerospace & Defense ETF by 14.4% in the first quarter. Gamco Investors INC. ET AL now owns 176,429 shares of the company’s stock valued at $8,774,000 after acquiring an additional 22,235 shares in the last quarter.

Gabelli Commercial Aerospace & Defense ETF Stock Up 0.6%

NYSEARCA GCAD opened at $55.54 on Friday. Gabelli Commercial Aerospace & Defense ETF has a 52 week low of $40.99 and a 52 week high of $59.11. The company has a market cap of $33.32 million, a PE ratio of 29.49 and a beta of 0.88. The firm’s 50-day simple moving average is $53.15 and its two-hundred day simple moving average is $51.91.

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.