The Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) saw a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 37,500 shares, a decline of 55.3% from the January 31st total of 83,900 shares. Based on an average trading volume of 559,500 shares, the days-to-cover ratio is currently 0.1 days.
Institutional Trading of The Gabelli Equity Trust
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pinnacle Associates Ltd. bought a new stake in The Gabelli Equity Trust during the third quarter worth approximately $146,000. Pure Financial Advisors LLC bought a new stake in shares of The Gabelli Equity Trust in the 3rd quarter worth $285,000. Shaker Financial Services LLC lifted its holdings in shares of The Gabelli Equity Trust by 413.3% in the third quarter. Shaker Financial Services LLC now owns 652,653 shares of the financial services provider's stock valued at $3,583,000 after buying an additional 525,502 shares during the period. Valley Brook Capital Group Inc. boosted its stake in The Gabelli Equity Trust by 8.9% during the third quarter. Valley Brook Capital Group Inc. now owns 103,586 shares of the financial services provider's stock valued at $569,000 after buying an additional 8,500 shares in the last quarter. Finally, Wolverine Asset Management LLC boosted its stake in The Gabelli Equity Trust by 435.6% during the third quarter. Wolverine Asset Management LLC now owns 121,044 shares of the financial services provider's stock valued at $665,000 after buying an additional 98,444 shares in the last quarter. 7.24% of the stock is currently owned by institutional investors.
The Gabelli Equity Trust Price Performance
Shares of GAB traded up $0.05 during trading hours on Wednesday, reaching $5.58. 456,113 shares of the company's stock traded hands, compared to its average volume of 448,719. The Gabelli Equity Trust has a twelve month low of $5.09 and a twelve month high of $5.85. The business's fifty day simple moving average is $5.50 and its two-hundred day simple moving average is $5.52.
The Gabelli Equity Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 10.76%.
The Gabelli Equity Trust Company Profile
(
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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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