The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Update

The Gabelli Equity Trust Inc. (NYSE:GAB) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 35,700 shares, a growth of 39.5% from the August 15th total of 25,600 shares. Based on an average trading volume of 576,600 shares, the days-to-cover ratio is presently 0.1 days.

Insider Activity at The Gabelli Equity Trust

In other The Gabelli Equity Trust news, insider Mario J. Gabelli bought 11,750 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was purchased at an average cost of $100.00 per share, for a total transaction of $1,175,000.00. Following the completion of the purchase, the insider now directly owns 16,750 shares of the company’s stock, valued at $1,675,000. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by insiders.

Institutional Trading of The Gabelli Equity Trust

Institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of The Gabelli Equity Trust in the 4th quarter worth approximately $337,000. Cetera Investment Advisers grew its stake in The Gabelli Equity Trust by 1,196.4% during the first quarter. Cetera Investment Advisers now owns 449,417 shares of the financial services provider’s stock worth $2,481,000 after purchasing an additional 414,751 shares during the period. Cullen Investment Group LTD. bought a new stake in The Gabelli Equity Trust in the first quarter worth approximately $86,000. Avantax Advisory Services Inc. bought a new stake in The Gabelli Equity Trust in the fourth quarter worth approximately $234,000. Finally, Jump Financial LLC acquired a new position in The Gabelli Equity Trust in the fourth quarter valued at approximately $58,000. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Down 3.1 %

NYSE GAB traded down $0.17 during trading hours on Monday, reaching $5.32. The company’s stock had a trading volume of 636,850 shares, compared to its average volume of 571,886. The firm has a fifty day simple moving average of $5.40 and a 200-day simple moving average of $5.41. The Gabelli Equity Trust has a 52 week low of $4.56 and a 52 week high of $5.74.

The Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 16th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.28%.

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.