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 May. As of May 15th, there was short interest totaling 25,825 shares, a decrease of 94.8% from the April 30th total of 501,262 shares. Based on an average daily trading volume, of 1,309,158 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

Gabelli Equity Trust Price Performance

GAB stock traded down $0.02 on Friday, reaching $5.62. The company had a trading volume of 1,022,207 shares, compared to its average volume of 1,178,012. Gabelli Equity Trust has a 1 year low of $5.28 and a 1 year high of $6.37. The company’s fifty day moving average is $5.59 and its 200 day moving average is $5.92.

Gabelli Equity Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors 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 dividend on an annualized basis and a yield of 10.7%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Commonwealth Retirement Investments LLC purchased a new position in shares of Gabelli Equity Trust during the 4th quarter worth $30,000. Flagship Harbor Advisors LLC purchased a new position in shares of Gabelli Equity Trust during the 4th quarter worth $30,000. Huntington National Bank purchased a new position in shares of Gabelli Equity Trust during the 3rd quarter worth $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 purchasing an additional 3,400 shares during the period. Finally, Larson Financial Group LLC purchased a new position in shares of Gabelli Equity Trust in the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 7.24% of the company’s stock.

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.