Short Interest in The Gabelli Equity Trust Inc. (NYSE:GAB) Rises By 529.7%

The Gabelli Equity Trust Inc. (NYSE:GAB) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 224,800 shares, an increase of 529.7% from the August 31st total of 35,700 shares. Based on an average daily trading volume, of 574,000 shares, the days-to-cover ratio is currently 0.4 days.

The Gabelli Equity Trust Stock Up 0.2 %

The Gabelli Equity Trust stock traded up $0.01 during mid-day trading on Friday, hitting $5.45. 380,939 shares of the stock were exchanged, compared to its average volume of 585,207. The firm’s fifty day simple moving average is $5.42 and its two-hundred day simple moving average is $5.40. The Gabelli Equity Trust has a 12 month low of $4.56 and a 12 month high of $5.74.

The Gabelli Equity Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were paid a $0.15 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 11.01%.

Institutional Investors Weigh In On The Gabelli Equity Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jump Financial LLC bought a new stake in The Gabelli Equity Trust during the 4th quarter valued at $58,000. Scotia Capital Inc. boosted its position in shares of The Gabelli Equity Trust by 5.3% during the fourth quarter. Scotia Capital Inc. now owns 441,763 shares of the financial services provider’s stock valued at $2,244,000 after buying an additional 22,226 shares during the last quarter. Steward Partners Investment Solutions LLC bought a new stake in The Gabelli Equity Trust during the fourth quarter worth $27,000. Waterloo Capital L.P. bought a new position in The Gabelli Equity Trust during the 4th quarter valued at $159,000. Finally, Cohen & Steers Inc. boosted its holdings in The Gabelli Equity Trust by 4.0% during the 4th quarter. Cohen & Steers Inc. now owns 903,640 shares of the financial services provider’s stock worth $4,590,000 after acquiring an additional 35,000 shares during the last quarter. 7.24% of the stock is owned by institutional investors.

About The Gabelli Equity Trust

The Gabelli Equity Trust Inc is a closed ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in preferred stock, convertible or exchangeable securities, and warrants and rights.