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The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Down 17.1% in May

The Gabelli Equity Trust logo with Finance background

The Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) saw a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 1,500,000 shares, a decrease of 17.1% from the April 30th total of 1,810,000 shares. Based on an average daily volume of 611,400 shares, the short-interest ratio is currently 2.5 days. Approximately 0.5% of the company's stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GAB. Beacon Pointe Advisors LLC boosted its stake in shares of The Gabelli Equity Trust by 7.1% during the fourth quarter. Beacon Pointe Advisors LLC now owns 30,000 shares of the financial services provider's stock worth $161,000 after buying an additional 2,000 shares during the period. PFG Investments LLC lifted its position in The Gabelli Equity Trust by 3.5% during the 1st quarter. PFG Investments LLC now owns 86,549 shares of the financial services provider's stock worth $477,000 after acquiring an additional 2,928 shares during the period. Apollon Wealth Management LLC lifted its position in The Gabelli Equity Trust by 31.2% during the 4th quarter. Apollon Wealth Management LLC now owns 15,170 shares of the financial services provider's stock worth $82,000 after acquiring an additional 3,605 shares during the period. Atria Wealth Solutions Inc. grew its stake in shares of The Gabelli Equity Trust by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 95,076 shares of the financial services provider's stock valued at $512,000 after purchasing an additional 4,512 shares during the last quarter. Finally, Wedbush Securities Inc. increased its holdings in shares of The Gabelli Equity Trust by 4.0% in the first quarter. Wedbush Securities Inc. now owns 121,478 shares of the financial services provider's stock valued at $669,000 after purchasing an additional 4,687 shares during the period. 7.24% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Equity Trust Stock Up 0.8%

Shares of NYSE GAB traded up $0.05 during trading hours on Friday, reaching $5.83. The stock had a trading volume of 402,341 shares, compared to its average volume of 582,059. The firm has a 50-day moving average of $5.51 and a 200-day moving average of $5.53. The Gabelli Equity Trust has a fifty-two week low of $4.50 and a fifty-two week high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 10.30%.

About The Gabelli Equity Trust

(Get Free Report)

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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