Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD – Get Free Report) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 5,800 shares, an increase of 263.4% from the August 15th total of 1,596 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 8,905 shares, the days-to-cover ratio is currently 0.7 days.
Hedge Funds Weigh In On Gabelli Commercial Aerospace & Defense ETF
A number of large investors have recently modified their holdings of the business. Parallel Advisors LLC acquired a new stake in shares of Gabelli Commercial Aerospace & Defense ETF in the first quarter valued at about $30,000. NewEdge Advisors LLC acquired a new position in Gabelli Commercial Aerospace & Defense ETF during the second quarter valued at approximately $347,000. Gabelli Funds LLC bought a new position in Gabelli Commercial Aerospace & Defense ETF in the fourth quarter valued at approximately $696,000. Finally, Gamco Investors INC. ET AL grew its stake in Gabelli Commercial Aerospace & Defense ETF by 14.4% in the first quarter. Gamco Investors INC. ET AL now owns 176,429 shares of the company’s stock valued at $8,774,000 after purchasing an additional 22,235 shares in the last quarter.
Gabelli Commercial Aerospace & Defense ETF Stock Up 0.8%
GCAD traded up $0.42 during trading hours on Friday, hitting $50.26. 2,781 shares of the company’s stock were exchanged, compared to its average volume of 6,475. The stock has a market cap of $40.21 million, a price-to-earnings ratio of 29.49 and a beta of 0.85. Gabelli Commercial Aerospace & Defense ETF has a 1-year low of $43.51 and a 1-year high of $59.11. The stock’s 50-day moving average is $54.31 and its two-hundred day moving average is $53.50.
About Gabelli Commercial Aerospace & Defense ETF
The Gabelli Commercial Aerospace & Defense ETF (GCAD) is an exchange-traded fund that mostly invests in industrials equity. The fund is an actively managed, non-transparent ETF that invests in income-producing equities in the US aerospace and defense industry. The fund utilizes the Precidian non-transparent model GCAD was launched on Jan 3, 2023 and is managed by Gabelli.
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