The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Up 498.7% in February

The Gabelli Equity Trust Inc. (NYSE:GAB) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 224,500 shares, a growth of 498.7% from the February 13th total of 37,500 shares. Based on an average daily trading volume, of 558,200 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the company’s stock are short sold.

The Gabelli Equity Trust Stock Performance

Shares of GAB traded down $0.04 during trading hours on Thursday, hitting $5.48. 247,715 shares of the company were exchanged, compared to its average volume of 459,115. The firm’s 50 day moving average is $5.52 and its 200-day moving average is $5.52. The Gabelli Equity Trust has a 52 week low of $5.09 and a 52 week 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. Shareholders of record on Monday, March 17th will be issued 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 10.96%.

Institutional Trading of The Gabelli Equity Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in 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 valued at $853,000 after buying an additional 67,889 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of The Gabelli Equity Trust by 13.3% during the third quarter. HighTower Advisors LLC now owns 84,531 shares of the financial services provider’s stock worth $462,000 after buying an additional 9,914 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in The Gabelli Equity Trust during the fourth quarter worth about $58,000. Kera Capital Partners Inc. acquired a new stake in The Gabelli Equity Trust in the fourth quarter valued at $569,000. Finally, Wolverine Asset Management LLC increased its stake in shares of The Gabelli Equity Trust by 435.6% during the 3rd quarter. Wolverine Asset Management LLC now owns 121,044 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 98,444 shares during the last quarter. 7.24% of the stock is currently owned by institutional investors and hedge funds.

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.