The Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) saw a large 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. Approximately 0.5% of the shares of the stock are sold short. Based on an average trading volume of 611,400 shares, the short-interest ratio is presently 2.5 days.
The Gabelli Equity Trust Price Performance
Shares of GAB traded up $0.03 during mid-day trading on Thursday, reaching $5.81. The company's stock had a trading volume of 255,687 shares, compared to its average volume of 546,242. The business has a fifty day moving average of $5.49 and a 200 day moving average of $5.53. The Gabelli Equity Trust has a 1 year low of $4.50 and a 1 year high of $5.85.
The Gabelli Equity Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 10.33%. The ex-dividend date is Friday, June 13th.
Hedge Funds Weigh In On The Gabelli Equity Trust
Hedge funds have recently bought and sold shares of the business. Leigh Baldwin & CO. LLC acquired a new position in The Gabelli Equity Trust during the fourth quarter worth $463,000. Steward Partners Investment Advisory LLC increased its stake in shares of The Gabelli Equity Trust by 30.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 223,420 shares of the financial services provider's stock worth $1,202,000 after purchasing an additional 52,800 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of The Gabelli Equity Trust in the fourth quarter worth about $58,000. Golden State Wealth Management LLC bought a new position in shares of The Gabelli Equity Trust in the fourth quarter worth about $2,925,000. Finally, Raymond James Financial Inc. bought a new stake in shares of The Gabelli Equity Trust in the fourth quarter valued at about $2,614,000. 7.24% of the stock is owned by institutional investors and hedge funds.
The Gabelli Equity Trust Company Profile
(
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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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