Short Interest in The Gabelli Equity Trust Inc. (NYSE:GAB) Decreases By 9.5%

The Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 103,400 shares, a drop of 9.5% from the November 15th total of 114,200 shares. Based on an average daily volume of 582,500 shares, the short-interest ratio is presently 0.2 days.

The Gabelli Equity Trust Price Performance

Shares of GAB traded down $0.02 during mid-day trading on Friday, hitting $5.59. The stock had a trading volume of 958,753 shares, compared to its average volume of 575,175. The Gabelli Equity Trust has a fifty-two week low of $4.96 and a fifty-two week high of $5.85. The company's fifty day simple moving average is $5.57 and its two-hundred day simple moving average is $5.46.

The Gabelli Equity Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.60 annualized dividend and a yield of 10.73%.

Institutional Trading of The Gabelli Equity Trust

A number of institutional investors and hedge funds have recently modified their holdings of the business. Concourse Financial Group Securities Inc. lifted its holdings in shares of The Gabelli Equity Trust by 252.9% in the 2nd quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider's stock worth $31,000 after purchasing an additional 4,300 shares during the last quarter. Rothschild Investment LLC bought a new stake in The Gabelli Equity Trust in the second quarter valued at $31,000. CNB Bank bought a new stake in The Gabelli Equity Trust in the third quarter valued at $38,000. Triton Wealth Management PLLC acquired a new position in shares of The Gabelli Equity Trust during the third quarter valued at $60,000. Finally, Kapstone Financial Advisors LLC bought a new position in shares of The Gabelli Equity Trust during the second quarter worth about $61,000. 7.24% of the stock is owned by institutional investors and hedge funds.

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.