The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Update

The Gabelli Equity Trust Inc. (NYSE:GAB) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 845,300 shares, an increase of 276.5% from the February 28th total of 224,500 shares. Based on an average daily volume of 579,800 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.3% of the company’s stock are sold short.

Institutional Trading of The Gabelli Equity Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Chancellor Financial Group WB LP acquired a new position in shares of The Gabelli Equity Trust during the 4th quarter worth approximately $99,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of The Gabelli Equity Trust by 60.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 140,181 shares of the financial services provider’s stock valued at $754,000 after buying an additional 52,691 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new position in The Gabelli Equity Trust during the fourth quarter worth $463,000. Putney Financial Group LLC bought a new stake in The Gabelli Equity Trust during the fourth quarter worth $100,000. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of The Gabelli Equity Trust in the 4th quarter valued at about $137,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Down 0.8 %

The Gabelli Equity Trust stock opened at $5.50 on Friday. The Gabelli Equity Trust has a 1-year low of $5.09 and a 1-year high of $5.85. The company has a fifty day simple moving average of $5.54 and a 200 day simple moving average of $5.52.

The Gabelli Equity Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 10.92%. The ex-dividend date was Monday, March 17th.

The Gabelli Equity Trust Company Profile

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.