Short Interest in Gabelli Equity Trust Inc. (NYSE:GAB) Declines By 94.8%

Gabelli Equity Trust Inc. (NYSE:GAB) was the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 25,825 shares, a decline of 94.8% from the April 30th total of 501,262 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily volume of 1,309,158 shares, the short-interest ratio is currently 0.0 days.

Institutional Trading of Gabelli Equity Trust

Several hedge funds have recently added to or reduced their stakes in GAB. Huntington National Bank bought a new stake in Gabelli Equity Trust in the third quarter worth $30,000. Flagship Harbor Advisors LLC bought a new position in shares of Gabelli Equity Trust during the fourth quarter valued at about $30,000. Commonwealth Retirement Investments LLC bought a new position in shares of Gabelli Equity Trust during the fourth quarter valued at about $30,000. Geneos Wealth Management Inc. raised its stake in shares of Gabelli Equity Trust by 200.0% during the second quarter. Geneos Wealth Management Inc. now owns 5,100 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 3,400 shares during the last quarter. Finally, PNC Financial Services Group Inc. bought a new position in shares of Gabelli Equity Trust during the first quarter valued at about $33,000. 7.24% of the stock is owned by institutional investors.

Gabelli Equity Trust Stock Performance

Gabelli Equity Trust stock traded up $0.02 during mid-day trading on Wednesday, hitting $5.64. The company’s stock had a trading volume of 853,332 shares, compared to its average volume of 1,257,283. The business has a 50 day moving average price of $5.58 and a 200-day moving average price of $5.92. Gabelli Equity Trust has a 12 month low of $5.28 and a 12 month high of $6.37.

Gabelli Equity Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.60 annualized dividend and a yield of 10.6%.

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.