Short Interest in Gabelli Equity Trust Inc. (NYSE:GAB) Expands By 105.8%

Gabelli Equity Trust Inc. (NYSE:GAB) saw a large growth in short interest in July. As of July 31st, there was short interest totaling 705,786 shares, a growth of 105.8% from the July 15th total of 342,963 shares. Based on an average daily volume of 892,397 shares, the short-interest ratio is presently 0.8 days. Currently, 0.2% of the shares of the stock are sold short.

Gabelli Equity Trust Stock Up 0.1%

GAB opened at $5.80 on Monday. The firm’s 50-day simple moving average is $5.63 and its 200-day simple moving average is $5.73. Gabelli Equity Trust has a twelve month low of $5.28 and a twelve month high of $6.37.

Gabelli Equity Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be given 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 10.3%.

Institutional Trading of Gabelli Equity Trust

Several large investors have recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC acquired a new position in shares of Gabelli Equity Trust in the 4th quarter worth approximately $30,000. Geneos Wealth Management Inc. increased its holdings in Gabelli Equity Trust by 200.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 5,100 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 3,400 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in Gabelli Equity Trust during the 1st quarter valued at $33,000. Larson Financial Group LLC bought a new position in Gabelli Equity Trust in the 3rd quarter valued at $34,000. Finally, Hilton Head Capital Partners LLC bought a new position in Gabelli Equity Trust in the 4th quarter valued at $42,000. 7.24% of the stock is owned by 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.