The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Up 498.7% in February

The Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 224,500 shares, an increase of 498.7% from the February 13th total of 37,500 shares. Based on an average trading volume of 558,200 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the company's shares are sold short.

The Gabelli Equity Trust Stock Up 0.6 %

Shares of The Gabelli Equity Trust stock traded up $0.04 on Friday, hitting $5.50. 527,972 shares of the company's stock traded hands, compared to its average volume of 557,728. The company has a fifty day moving average of $5.52 and a two-hundred day moving average of $5.52. The Gabelli Equity Trust has a one year low of $5.09 and a one year high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be paid a $0.15 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 10.92%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GAB. Kentucky Trust Co bought a new stake in The Gabelli Equity Trust in the fourth quarter valued at $40,000. Aurora Private Wealth Inc. bought a new position in The Gabelli Equity Trust in the fourth quarter worth approximately $56,000. Bank of Montreal Can acquired a new stake in The Gabelli Equity Trust in the fourth quarter valued at approximately $56,000. Strategic Financial Concepts LLC bought a new stake in shares of The Gabelli Equity Trust during the fourth quarter valued at approximately $58,000. Finally, Elequin Capital LP acquired a new position in shares of The Gabelli Equity Trust during the fourth quarter worth approximately $69,000. Institutional investors and hedge funds own 7.24% of the company's stock.

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The Gabelli Equity Trust Company Profile

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.