Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) Short Interest Up 263.4% in August

Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 5,800 shares, a growth of 263.4% from the August 15th total of 1,596 shares. Based on an average daily trading volume, of 8,905 shares, the short-interest ratio is currently 0.7 days. Currently, 0.7% of the shares of the company are sold short.

Gabelli Commercial Aerospace & Defense ETF Price Performance

Shares of NYSEARCA:GCAD traded down $0.21 during trading on Monday, reaching $50.05. 767 shares of the company’s stock traded hands, compared to its average volume of 6,442. The stock has a market capitalization of $40.04 million, a P/E ratio of 29.49 and a beta of 0.85. Gabelli Commercial Aerospace & Defense ETF has a 12 month low of $43.51 and a 12 month high of $59.11. The company has a 50 day moving average of $54.31 and a 200-day moving average of $53.49.

Hedge Funds Weigh In On Gabelli Commercial Aerospace & Defense ETF

Institutional investors have recently made changes to their positions in the stock. Gabelli Funds LLC lifted its holdings in shares of Gabelli Commercial Aerospace & Defense ETF by 783.3% in the 1st quarter. Gabelli Funds LLC now owns 132,500 shares of the company’s stock worth $6,589,000 after purchasing an additional 117,500 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Gabelli Commercial Aerospace & Defense ETF by 218.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 154,194 shares of the company’s stock valued at $7,158,000 after purchasing an additional 105,800 shares during the period. NewEdge Advisors LLC bought a new position in Gabelli Commercial Aerospace & Defense ETF during the 2nd quarter worth $347,000. Finally, Parallel Advisors LLC bought a new position in Gabelli Commercial Aerospace & Defense ETF during the 1st quarter worth $30,000.

About Gabelli Commercial Aerospace & Defense ETF

The Gabelli Commercial Aerospace & Defense ETF (GCAD) is an exchange-traded fund that mostly invests in industrials equity. The fund is an actively managed, non-transparent ETF that invests in income-producing equities in the US aerospace and defense industry. The fund utilizes the Precidian non-transparent model GCAD was launched on Jan 3, 2023 and is managed by Gabelli.