Gabelli Equity Trust Inc. (NYSE:GAB) Sees Significant Decrease in Short Interest

Gabelli Equity Trust Inc. (NYSE:GAB) was the recipient of a large decline in short interest in May. As of May 15th, there was short interest totaling 25,825 shares, a decline of 94.8% from the April 30th total of 501,262 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 1,309,158 shares, the short-interest ratio is presently 0.0 days.

Gabelli Equity Trust Trading Down 0.6%

NYSE GAB traded down $0.04 during trading on Thursday, hitting $5.61. The stock had a trading volume of 833,135 shares, compared to its average volume of 1,103,065. The company’s 50-day moving average price is $5.58 and its two-hundred day moving average price is $5.92. Gabelli Equity Trust has a 12 month low of $5.28 and a 12 month high of $6.37.

Gabelli Equity Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be paid a $0.15 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.60 annualized dividend and a yield of 10.7%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GAB. Kestra Advisory Services LLC boosted its position in Gabelli Equity Trust by 75.8% during the fourth quarter. Kestra Advisory Services LLC now owns 456,226 shares of the financial services provider’s stock valued at $2,815,000 after purchasing an additional 196,659 shares during the last quarter. Jane Street Group LLC boosted its position in Gabelli Equity Trust by 541.0% during the fourth quarter. Jane Street Group LLC now owns 187,620 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 158,348 shares during the last quarter. Truist Financial Corp boosted its position in Gabelli Equity Trust by 722.6% during the fourth quarter. Truist Financial Corp now owns 172,371 shares of the financial services provider’s stock valued at $1,064,000 after purchasing an additional 151,416 shares during the last quarter. PMG Family Office LLC acquired a new position in Gabelli Equity Trust during the third quarter valued at approximately $848,000. Finally, Bank of America Corp DE boosted its position in Gabelli Equity Trust by 18.8% during the third quarter. Bank of America Corp DE now owns 631,227 shares of the financial services provider’s stock valued at $3,844,000 after purchasing an additional 99,912 shares during the last quarter. 7.24% of the stock is owned by institutional investors and hedge funds.

Gabelli Equity Trust Company Profile

Gabelli Equity Trust, Inc (NYSE: GAB) is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.