Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) Short Interest Up 73.3% in July

Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 14,407 shares, an increase of 73.3% from the July 15th total of 8,313 shares. Based on an average daily volume of 9,640 shares, the short-interest ratio is presently 1.5 days. Currently, 1.8% of the company’s stock are short sold.

Gabelli Commercial Aerospace & Defense ETF Stock Performance

Shares of Gabelli Commercial Aerospace & Defense ETF stock traded down $0.34 during trading on Monday, hitting $57.40. 5,462 shares of the stock traded hands, compared to its average volume of 6,416. The stock has a market cap of $45.92 million, a P/E ratio of 29.49 and a beta of 0.87. The company has a fifty day moving average price of $55.56 and a two-hundred day moving average price of $53.58. Gabelli Commercial Aerospace & Defense ETF has a twelve month low of $42.30 and a twelve month high of $59.11.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GCAD. Parallel Advisors LLC bought a new position in shares of Gabelli Commercial Aerospace & Defense ETF during the 1st quarter valued at $30,000. Gabelli Funds LLC bought a new stake in Gabelli Commercial Aerospace & Defense ETF in the fourth quarter worth $696,000. Finally, Gamco Investors INC. ET AL increased its position in Gabelli Commercial Aerospace & Defense ETF by 218.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 154,194 shares of the company’s stock worth $7,158,000 after buying an additional 105,800 shares during the last quarter.

Gabelli Commercial Aerospace & Defense ETF Company Profile

The Gabelli Commercial Aerospace & Defense ETF (GCAD) is an exchange-traded fund that mostly invests in industrials equity. The fund is an actively managed, non-transparent ETF that invests in income-producing equities in the US aerospace and defense industry. The fund utilizes the Precidian non-transparent model GCAD was launched on Jan 3, 2023 and is managed by Gabelli.