The Gabelli Equity Trust Inc. (NYSE:GAB) Sees Large Decrease in Short Interest

The Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 29,100 shares, a decline of 65.6% from the September 30th total of 84,700 shares. Based on an average daily volume of 557,400 shares, the days-to-cover ratio is currently 0.1 days.

The Gabelli Equity Trust Trading Down 0.7 %

Shares of NYSE:GAB traded down $0.04 during mid-day trading on Friday, reaching $5.39. The company had a trading volume of 532,176 shares, compared to its average volume of 574,205. The company's 50-day moving average price is $5.47 and its 200-day moving average price is $5.40. The Gabelli Equity Trust has a one year low of $4.56 and a one year high of $5.74.

The Gabelli Equity Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were issued a $0.15 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.13%.

Institutional Investors Weigh In On The Gabelli Equity Trust

Hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers raised its holdings in shares of The Gabelli Equity Trust by 1,196.4% in the 1st quarter. Cetera Investment Advisers now owns 449,417 shares of the financial services provider's stock worth $2,481,000 after purchasing an additional 414,751 shares during the period. Quadrature Capital Ltd bought a new stake in The Gabelli Equity Trust during the 1st quarter valued at $68,000. Advisors Asset Management Inc. bought a new stake in The Gabelli Equity Trust during the 1st quarter valued at $716,000. Hartline Investment Corp bought a new stake in The Gabelli Equity Trust during the 1st quarter valued at $139,000. Finally, Commonwealth Equity Services LLC raised its holdings in The Gabelli Equity Trust by 8.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,789,806 shares of the financial services provider's stock valued at $14,507,000 after acquiring an additional 216,440 shares during the period. Institutional investors own 7.24% of the company's stock.

About The Gabelli Equity Trust

The Gabelli Equity Trust Inc is a closed ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in preferred stock, convertible or exchangeable securities, and warrants and rights.

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