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

Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) was the recipient of a significant decline in short interest in May. As of May 31st, there was short interest totalling 1,090,000 shares, a decline of 27.3% from the May 15th total of 1,500,000 shares. Based on an average trading volume of 612,800 shares, the short-interest ratio is currently 1.8 days. Currently, 0.4% of the company's shares are short sold.

Gabelli Equity Trust Price Performance

Shares of Gabelli Equity Trust stock opened at $5.56 on Wednesday. The business's 50 day simple moving average is $5.59 and its 200 day simple moving average is $5.53. Gabelli Equity Trust has a 52-week low of $4.50 and a 52-week high of $5.90.

Gabelli Equity Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 13th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 10.80%. The ex-dividend date is Friday, June 13th.

Institutional Investors Weigh In On Gabelli Equity Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in GAB. LPL Financial LLC increased its holdings in shares of Gabelli Equity Trust by 28.3% during the 4th quarter. LPL Financial LLC now owns 3,520,427 shares of the financial services provider's stock worth $18,940,000 after acquiring an additional 776,591 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in Gabelli Equity Trust by 3,654.1% during the first quarter. J.W. Cole Advisors Inc. now owns 720,307 shares of the financial services provider's stock worth $3,969,000 after purchasing an additional 701,120 shares during the period. Golden State Wealth Management LLC increased its holdings in shares of Gabelli Equity Trust by 90.8% in the first quarter. Golden State Wealth Management LLC now owns 1,037,271 shares of the financial services provider's stock valued at $5,715,000 after purchasing an additional 493,510 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Gabelli Equity Trust in the fourth quarter valued at about $2,614,000. Finally, Independent Advisor Alliance acquired a new stake in shares of Gabelli Equity Trust during the 4th quarter worth about $1,978,000. 7.24% of the stock is owned by institutional investors.

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.

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