Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Up 426.1% in May

Gabelli Equity Trust Inc. (NYSE:GAB) was the recipient of a large growth in short interest in May. As of May 29th, there was short interest totaling 135,871 shares, a growth of 426.1% from the May 14th total of 25,825 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,131,322 shares, the short-interest ratio is presently 0.1 days.

Gabelli Equity Trust Stock Performance

GAB traded up $0.02 on Friday, reaching $5.65. The company had a trading volume of 947,515 shares, compared to its average volume of 1,102,853. The company has a fifty day moving average of $5.59 and a 200-day moving average of $5.89. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Monday, June 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 10.6%. The ex-dividend date is Monday, June 15th.

Hedge Funds Weigh In On Gabelli Equity Trust

A number of institutional investors and hedge funds have recently bought and sold shares of GAB. Huntington National Bank bought a new position in Gabelli Equity Trust in the 3rd quarter valued at about $30,000. Flagship Harbor Advisors LLC bought a new position in shares of Gabelli Equity Trust during the 4th quarter valued at about $30,000. Commonwealth Retirement Investments LLC bought a new position in shares of Gabelli Equity Trust during the 4th quarter valued at about $30,000. Geneos Wealth Management Inc. boosted its position in shares of Gabelli Equity Trust by 200.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 5,100 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 3,400 shares in the last quarter. Finally, PNC Financial Services Group Inc. bought a new position in shares of Gabelli Equity Trust during the 1st quarter valued at about $33,000. Institutional investors own 7.24% of the company’s stock.

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.