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

Gabelli Equity Trust Inc. (NYSE:GAB) was the recipient of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 501,262 shares, a decrease of 89.0% from the April 15th total of 4,539,145 shares. Based on an average daily volume of 1,248,570 shares, the short-interest ratio is presently 0.4 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GAB. LPL Financial LLC boosted its position in Gabelli Equity Trust by 2.1% during the fourth quarter. LPL Financial LLC now owns 4,462,497 shares of the financial services provider’s stock valued at $27,534,000 after purchasing an additional 93,789 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Gabelli Equity Trust by 1.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,516,560 shares of the financial services provider’s stock worth $9,357,000 after purchasing an additional 28,926 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in Gabelli Equity Trust by 1.8% in the third quarter. J.W. Cole Advisors Inc. now owns 1,280,478 shares of the financial services provider’s stock worth $7,798,000 after purchasing an additional 22,200 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Gabelli Equity Trust by 1.1% during the fourth quarter. Cetera Investment Advisers now owns 674,300 shares of the financial services provider’s stock valued at $4,160,000 after buying an additional 7,320 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Gabelli Equity Trust by 1.0% during the fourth quarter. Wells Fargo & Company MN now owns 641,300 shares of the financial services provider’s stock valued at $3,957,000 after buying an additional 6,175 shares during the last quarter. 7.24% of the stock is owned by institutional investors.

Gabelli Equity Trust Stock Performance

GAB stock traded up $0.02 during trading on Thursday, hitting $5.61. 1,139,935 shares of the company’s stock traded hands, compared to its average volume of 1,098,715. The business has a fifty day simple moving average of $5.63 and a two-hundred day simple moving average of $5.95. Gabelli Equity Trust has a 1 year low of $5.28 and a 1 year high of $6.37.

Gabelli Equity Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 10.7%. The ex-dividend date of this dividend is Monday, June 15th.

About Gabelli Equity Trust

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.