Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) Sees Significant Increase in Short Interest

Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 4,681 shares, an increase of 242.9% from the April 30th total of 1,365 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 10,074 shares, the short-interest ratio is presently 0.5 days.

Gabelli Commercial Aerospace & Defense ETF Trading Down 0.3%

NYSEARCA:GCAD traded down $0.16 on Friday, hitting $54.90. 2,950 shares of the company’s stock traded hands, compared to its average volume of 5,424. Gabelli Commercial Aerospace & Defense ETF has a 1 year low of $38.88 and a 1 year high of $56.99. The firm has a 50-day moving average price of $51.74 and a 200-day moving average price of $50.53. The company has a market cap of $32.94 million, a PE ratio of 29.49 and a beta of 0.86.

Hedge Funds Weigh In On Gabelli Commercial Aerospace & Defense ETF

Several institutional investors and hedge funds have recently bought and sold shares of GCAD. Gabelli Funds LLC purchased a new position in Gabelli Commercial Aerospace & Defense ETF during the 4th quarter valued at about $696,000. Gamco Investors INC. ET AL grew its stake in Gabelli Commercial Aerospace & Defense ETF by 218.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 154,194 shares of the company’s stock valued at $7,158,000 after acquiring an additional 105,800 shares in the last quarter. Finally, Parallel Advisors LLC purchased a new position in Gabelli Commercial Aerospace & Defense ETF during the 1st quarter valued at about $30,000.

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.