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

Gabelli Equity Trust Inc. (NYSE:GAB) saw a significant growth in short interest in June. As of June 30th, there was short interest totaling 467,709 shares, a growth of 191.9% from the June 15th total of 160,237 shares. Based on an average daily trading volume, of 1,412,277 shares, the short-interest ratio is currently 0.3 days. Currently, 0.2% of the shares of the company are short sold.

Hedge Funds Weigh In On Gabelli Equity Trust

A number of hedge funds have recently bought and sold shares of GAB. Hilltop Holdings Inc. grew its holdings in Gabelli Equity Trust by 9.6% in the third quarter. Hilltop Holdings Inc. now owns 19,756 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 1,724 shares during the period. Smith Moore & CO. lifted its position in shares of Gabelli Equity Trust by 11.2% during the 4th quarter. Smith Moore & CO. now owns 17,595 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,776 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Gabelli Equity Trust by 6.5% during the 2nd quarter. Baird Financial Group Inc. now owns 32,548 shares of the financial services provider’s stock valued at $189,000 after buying an additional 2,000 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Gabelli Equity Trust by 2.6% during the 4th quarter. HighTower Advisors LLC now owns 83,820 shares of the financial services provider’s stock valued at $517,000 after buying an additional 2,127 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Gabelli Equity Trust by 3.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 83,274 shares of the financial services provider’s stock valued at $515,000 after acquiring an additional 2,519 shares during the period. Hedge funds and other institutional investors own 7.24% of the company’s stock.

Gabelli Equity Trust Trading Down 0.1%

Shares of Gabelli Equity Trust stock traded down $0.01 during trading hours on Tuesday, reaching $5.67. The stock had a trading volume of 911,891 shares, compared to its average volume of 984,553. The stock’s 50 day moving average is $5.60 and its 200 day moving average is $5.80. Gabelli Equity Trust has a twelve month low of $5.28 and a twelve month high of $6.37.

Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Monday, June 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 10.6%. The ex-dividend date was Monday, June 15th.

About Gabelli Equity Trust

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.