Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Update

Gabelli Equity Trust Inc. (NYSE:GAB) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 705,786 shares, an increase of 105.8% from the July 15th total of 342,963 shares. Based on an average trading volume of 892,397 shares, the short-interest ratio is presently 0.8 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Trading of Gabelli Equity Trust

Hedge funds have recently bought and sold shares of the company. Focus Partners Wealth bought a new stake in shares of Gabelli Equity Trust during the first quarter valued at approximately $121,000. Baird Financial Group Inc. increased its position in Gabelli Equity Trust by 6.5% in the 2nd quarter. Baird Financial Group Inc. now owns 32,548 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 2,000 shares during the period. StoneX Group Inc. acquired a new stake in Gabelli Equity Trust in the 2nd quarter valued at approximately $79,000. Cerity Partners LLC raised its stake in Gabelli Equity Trust by 29.1% during the 2nd quarter. Cerity Partners LLC now owns 306,890 shares of the financial services provider’s stock valued at $1,786,000 after acquiring an additional 69,237 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in Gabelli Equity Trust by 8.1% during the 2nd quarter. Raymond James Financial Inc. now owns 554,382 shares of the financial services provider’s stock worth $3,227,000 after acquiring an additional 41,437 shares during the period. 7.24% of the stock is currently owned by institutional investors.

Gabelli Equity Trust Trading Down 0.3%

NYSE:GAB traded down $0.01 during midday trading on Friday, reaching $5.80. 759,906 shares of the company traded hands, compared to its average volume of 816,895. The company has a fifty day moving average price of $5.63 and a 200 day moving average price of $5.73. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 10.3%.

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.