The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Up 23.0% in March

The Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,040,000 shares, an increase of 23.0% from the March 15th total of 845,300 shares. Based on an average daily trading volume, of 591,800 shares, the short-interest ratio is presently 1.8 days. Approximately 0.3% of the company's stock are short sold.

Hedge Funds Weigh In On The Gabelli Equity Trust

A number of hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of The Gabelli Equity Trust by 77.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 155,379 shares of the financial services provider's stock worth $853,000 after buying an additional 67,889 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in The Gabelli Equity Trust by 30.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 223,420 shares of the financial services provider's stock worth $1,202,000 after acquiring an additional 52,800 shares during the period. HighTower Advisors LLC lifted its holdings in The Gabelli Equity Trust by 13.3% in the third quarter. HighTower Advisors LLC now owns 84,531 shares of the financial services provider's stock worth $462,000 after acquiring an additional 9,914 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in The Gabelli Equity Trust in the fourth quarter valued at approximately $58,000. Finally, Kera Capital Partners Inc. bought a new position in shares of The Gabelli Equity Trust during the fourth quarter valued at approximately $569,000. Institutional investors and hedge funds own 7.24% of the company's stock.

The Gabelli Equity Trust Stock Down 0.3 %

The Gabelli Equity Trust stock traded down $0.02 during midday trading on Friday, hitting $5.35. The stock had a trading volume of 261,609 shares, compared to its average volume of 568,895. The business has a fifty day moving average price of $5.42 and a 200 day moving average price of $5.49. The Gabelli Equity Trust has a 12 month low of $4.50 and a 12 month high of $5.85.

The Gabelli Equity Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 11.23%. The ex-dividend date of this dividend was Monday, March 17th.

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.