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

Gabelli Equity Trust Inc. (NYSE:GAB) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totaling 467,709 shares, an increase of 191.9% from the June 15th total of 160,237 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,412,277 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Gabelli Equity Trust

A number of institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC grew its position in Gabelli Equity Trust by 75.8% in the fourth quarter. Kestra Advisory Services LLC now owns 456,226 shares of the financial services provider’s stock valued at $2,815,000 after purchasing an additional 196,659 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Gabelli Equity Trust by 541.0% during the 4th quarter. Jane Street Group LLC now owns 187,620 shares of the financial services provider’s stock worth $1,158,000 after buying an additional 158,348 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Gabelli Equity Trust by 722.6% in the 4th quarter. Truist Financial Corp now owns 172,371 shares of the financial services provider’s stock valued at $1,064,000 after acquiring an additional 151,416 shares in the last quarter. PMG Family Office LLC acquired a new stake in shares of Gabelli Equity Trust in the third quarter valued at about $848,000. Finally, Bank of America Corp DE increased its position in shares of Gabelli Equity Trust by 18.8% in the third quarter. Bank of America Corp DE now owns 631,227 shares of the financial services provider’s stock valued at $3,844,000 after acquiring an additional 99,912 shares during the last quarter. Institutional investors own 7.24% of the company’s stock.

Gabelli Equity Trust Trading Up 0.4%

NYSE GAB traded up $0.03 during trading on Monday, hitting $5.67. The stock had a trading volume of 940,995 shares, compared to its average volume of 1,102,714. The company’s 50-day moving average price is $5.60 and its two-hundred day moving average price is $5.81. Gabelli Equity Trust has a 12 month low of $5.28 and a 12 month high of $6.37.

Gabelli Equity Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th were issued a $0.15 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.60 dividend on an annualized basis and a dividend 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.