Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Update

Gabelli Equity Trust Inc. (NYSE:GAB) saw a large increase in short interest in September. As of September 15th, there was short interest totaling 895,000 shares, an increase of 98.6% from the August 31st total of 450,700 shares. Based on an average daily volume of 445,500 shares, the short-interest ratio is currently 2.0 days. Based on an average daily volume of 445,500 shares, the short-interest ratio is currently 2.0 days.

Gabelli Equity Trust Stock Performance

Shares of NYSE:GAB opened at $6.10 on Tuesday. The company has a fifty day simple moving average of $6.06 and a 200 day simple moving average of $5.78. Gabelli Equity Trust has a 12-month low of $4.50 and a 12-month high of $6.32.

Gabelli Equity Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 16th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 9.8%. The ex-dividend date was Tuesday, September 16th.

Institutional Trading of Gabelli Equity Trust

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC lifted its holdings in Gabelli Equity Trust by 456,629.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 123,298,660 shares of the financial services provider’s stock worth $674,594,000 after acquiring an additional 123,271,664 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in Gabelli Equity Trust by 3,654.1% in the first quarter. J.W. Cole Advisors Inc. now owns 720,307 shares of the financial services provider’s stock valued at $3,969,000 after buying an additional 701,120 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Gabelli Equity Trust by 90.8% in the first quarter. Golden State Wealth Management LLC now owns 1,037,271 shares of the financial services provider’s stock valued at $5,715,000 after buying an additional 493,510 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Gabelli Equity Trust by 761.9% during the second quarter. Envestnet Asset Management Inc. now owns 457,149 shares of the financial services provider’s stock valued at $2,661,000 after acquiring an additional 404,110 shares during the period. Finally, Guggenheim Capital LLC grew its position in shares of Gabelli Equity Trust by 38.6% during the second quarter. Guggenheim Capital LLC now owns 358,969 shares of the financial services provider’s stock worth $2,089,000 after acquiring an additional 99,982 shares during the last quarter. Institutional investors and hedge funds own 7.24% of the company’s stock.

About Gabelli Equity Trust

The Gabelli Equity Trust Inc is a closed ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in preferred stock, convertible or exchangeable securities, and warrants and rights.