The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Down 67.1% in January

The Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 83,900 shares, a decline of 67.1% from the January 15th total of 255,000 shares. Based on an average trading volume of 576,200 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On The Gabelli Equity Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in GAB. CNB Bank purchased a new stake in shares of The Gabelli Equity Trust during the third quarter worth $38,000. Kentucky Trust Co acquired a new stake in shares of The Gabelli Equity Trust in the fourth quarter valued at about $40,000. Aurora Private Wealth Inc. acquired a new stake in shares of The Gabelli Equity Trust in the fourth quarter valued at about $56,000. Bank of Montreal Can acquired a new stake in shares of The Gabelli Equity Trust in the fourth quarter valued at about $56,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of The Gabelli Equity Trust in the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 7.24% of the company's stock.

The Gabelli Equity Trust Price Performance

NYSE GAB traded down $0.01 on Friday, hitting $5.56. The company had a trading volume of 530,994 shares, compared to its average volume of 447,463. The company's fifty day moving average price is $5.50 and its 200-day moving average price is $5.49. The Gabelli Equity Trust has a 12-month low of $5.09 and a 12-month high of $5.85.

The Gabelli Equity Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 10.80%. The ex-dividend date of this dividend is Monday, March 17th.

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.