Short Interest in Gabelli Equity Trust Inc. (NYSE:GAB) Decreases By 94.8%

Gabelli Equity Trust Inc. (NYSE:GAB) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totaling 25,825 shares, a decrease of 94.8% from the April 30th total of 501,262 shares. Approximately 0.0% of the company’s shares 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 Stock Performance

Shares of NYSE:GAB traded up $0.02 during midday trading on Wednesday, hitting $5.64. 853,332 shares of the stock traded hands, compared to its average volume of 1,257,283. The business’s 50 day moving average is $5.58 and its two-hundred day moving average is $5.92. Gabelli Equity Trust has a one year low of $5.28 and a one year high of $6.37.

Gabelli Equity Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.6%. The ex-dividend date of this dividend is Monday, June 15th.

Hedge Funds Weigh In On Gabelli Equity Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Truist Financial Corp raised its stake in shares of 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 acquiring an additional 151,416 shares during the last quarter. PMG Family Office LLC purchased a new position in shares of Gabelli Equity Trust during the third quarter valued at about $848,000. Commonwealth Retirement Investments LLC purchased a new position in shares of Gabelli Equity Trust during the fourth quarter valued at about $30,000. Mach 1 Financial Group LLC purchased a new position in shares of Gabelli Equity Trust during the fourth quarter valued at about $65,000. Finally, World Investment Advisors purchased a new position in shares of Gabelli Equity Trust during the fourth quarter valued at about $511,000. 7.24% of the stock is owned by institutional investors.

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.