The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Down 55.3% in February

The Gabelli Equity Trust Inc. (NYSE:GAB) was the recipient of a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 37,500 shares, a drop of 55.3% from the January 31st total of 83,900 shares. Based on an average daily trading volume, of 559,500 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On The Gabelli Equity Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Leigh Baldwin & CO. LLC bought a new position in shares of The Gabelli Equity Trust in the 4th quarter valued at $463,000. Putney Financial Group LLC acquired a new stake in The Gabelli Equity Trust in the fourth quarter valued at about $100,000. Kingstone Capital Partners Texas LLC bought a new position in The Gabelli Equity Trust in the fourth quarter valued at about $137,000. Cornerstone Advisory LLC acquired a new position in The Gabelli Equity Trust during the fourth quarter worth about $97,000. Finally, MidWestOne Financial Group Inc. acquired a new position in The Gabelli Equity Trust during the fourth quarter worth about $103,000. 7.24% of the stock is currently owned by institutional investors.

The Gabelli Equity Trust Price Performance

Shares of NYSE:GAB traded up $0.10 during midday trading on Friday, hitting $5.57. The stock had a trading volume of 282,143 shares, compared to its average volume of 443,732. The company’s 50-day moving average price is $5.50 and its 200-day moving average price is $5.51. The Gabelli Equity Trust has a fifty-two week low of $5.09 and a fifty-two week high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors 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 dividend on an annualized basis and a yield of 10.78%.

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.