Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Down 89.0% in April

Gabelli Equity Trust Inc. (NYSE:GAB) saw a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 501,262 shares, a decline of 89.0% from the April 15th total of 4,539,145 shares. Based on an average daily trading volume, of 1,248,570 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Investors Weigh In On Gabelli Equity Trust

Several large investors have recently modified their holdings of GAB. Huntington National Bank acquired a new position in shares of Gabelli Equity Trust during the third quarter worth about $30,000. Flagship Harbor Advisors LLC acquired a new position in Gabelli Equity Trust during the 4th quarter worth approximately $30,000. Commonwealth Retirement Investments LLC acquired a new stake in shares of Gabelli Equity Trust in the 4th quarter valued at approximately $30,000. Geneos Wealth Management Inc. lifted its holdings in Gabelli Equity Trust by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 5,100 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 3,400 shares during the period. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Gabelli Equity Trust during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 7.24% of the company’s stock.

Gabelli Equity Trust Price Performance

NYSE GAB traded up $0.02 on Thursday, reaching $5.61. The stock had a trading volume of 1,139,935 shares, compared to its average volume of 1,098,715. Gabelli Equity Trust has a 12-month low of $5.28 and a 12-month high of $6.37. The business’s 50-day moving average price is $5.63 and its 200 day moving average price is $5.95.

Gabelli Equity Trust Dividend Announcement

The business also recently declared 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 10.7%. The ex-dividend date is 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.