Short Interest in Gabelli Equity Trust Inc. (NYSE:GAB) Rises By 191.9%

Gabelli Equity Trust Inc. (NYSE:GAB) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 467,709 shares, a growth of 191.9% from the June 15th total of 160,237 shares. Based on an average daily volume of 1,412,277 shares, the short-interest ratio is currently 0.3 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Investors Weigh In On Gabelli Equity Trust

A number of large investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC acquired a new stake in Gabelli Equity Trust during the 4th quarter valued at $30,000. Commonwealth Retirement Investments LLC acquired a new stake in shares of Gabelli Equity Trust during the 4th quarter worth about $30,000. Geneos Wealth Management Inc. lifted its stake in shares of 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 worth $30,000 after buying an additional 3,400 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Gabelli Equity Trust during the 1st quarter worth about $33,000. Finally, Larson Financial Group LLC acquired a new position in Gabelli Equity Trust in the 3rd quarter valued at about $34,000. Institutional investors own 7.24% of the company’s stock.

Gabelli Equity Trust Price Performance

NYSE GAB traded up $0.03 during trading on Monday, reaching $5.67. 940,995 shares of the company’s stock were exchanged, compared to its average volume of 1,102,714. The business has a 50 day moving average price of $5.60 and a 200-day moving average price of $5.81. Gabelli Equity Trust has a fifty-two week low of $5.28 and a fifty-two week high of $6.37.

Gabelli Equity Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.6%. The ex-dividend date was 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.