The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) Sees Significant Increase in Short Interest

The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 2,285 shares, a growth of 51.6% from the August 31st total of 1,507 shares. Based on an average daily volume of 5,045 shares, the days-to-cover ratio is currently 0.5 days.

The Gabelli Global Small and Mid Cap Value Trust Stock Up 0.7%

The Gabelli Global Small and Mid Cap Value Trust stock opened at $15.44 on Thursday. The Gabelli Global Small and Mid Cap Value Trust has a 1-year low of $13.35 and a 1-year high of $17.08. The firm’s fifty day moving average price is $16.21 and its two-hundred day moving average price is $15.94.

The Gabelli Global Small and Mid Cap Value Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Wednesday, September 16th.

Hedge Funds Weigh In On The Gabelli Global Small and Mid Cap Value Trust

Hedge funds have recently added to or reduced their stakes in the stock. Capstone Investment Advisors LLC purchased a new stake in shares of The Gabelli Global Small and Mid Cap Value Trust in the second quarter worth approximately $1,126,000. Evolve Private Wealth LLC bought a new position in shares of The Gabelli Global Small and Mid Cap Value Trust in the second quarter valued at approximately $1,075,000. Beckerman Institutional LLC purchased a new position in shares of The Gabelli Global Small and Mid Cap Value Trust during the second quarter valued at approximately $933,000. Private Advisor Group LLC boosted its position in shares of The Gabelli Global Small and Mid Cap Value Trust by 8.6% during the first quarter. Private Advisor Group LLC now owns 13,154 shares of the company’s stock valued at $198,000 after buying an additional 1,047 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in The Gabelli Global Small and Mid Cap Value Trust during the second quarter worth $1,407,000.

About The Gabelli Global Small and Mid Cap Value Trust

The Gabelli Global Small and Mid Cap Value Trust (NYSE: GGZ) is a closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities of small- and mid-capitalization companies around the world. The fund follows a value-oriented investment approach, emphasizing companies that its investment adviser believes are undervalued relative to their business prospects, assets or earnings potential.

GGZ provides investors with diversified exposure to global equities across a range of industries and geographic markets.