Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) Sees Large Drop in Short Interest

Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) saw a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 1,365 shares, a decline of 45.7% from the April 15th total of 2,514 shares. Based on an average trading volume of 3,020 shares, the short-interest ratio is presently 0.5 days. Approximately 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Gabelli Commercial Aerospace & Defense ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Gabelli Funds LLC lifted its position in Gabelli Commercial Aerospace & Defense ETF by 783.3% during the first quarter. Gabelli Funds LLC now owns 132,500 shares of the company’s stock valued at $6,589,000 after purchasing an additional 117,500 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in Gabelli Commercial Aerospace & Defense ETF by 14.4% during the first quarter. Gamco Investors INC. ET AL now owns 176,429 shares of the company’s stock valued at $8,774,000 after purchasing an additional 22,235 shares in the last quarter. Finally, Parallel Advisors LLC purchased a new position in Gabelli Commercial Aerospace & Defense ETF during the first quarter valued at $30,000.

Gabelli Commercial Aerospace & Defense ETF Price Performance

Shares of GCAD traded up $0.57 during trading hours on Monday, hitting $51.31. The stock had a trading volume of 3,195 shares, compared to its average volume of 5,291. Gabelli Commercial Aerospace & Defense ETF has a 12 month low of $37.85 and a 12 month high of $56.99. The firm has a market capitalization of $30.79 million, a PE ratio of 29.49 and a beta of 0.86. The stock has a fifty day moving average price of $51.77 and a 200 day moving average price of $50.06.

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.