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

The Gabelli Equity Trust Inc. (NYSE:GAB) was the target of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 103,400 shares, a decrease of 9.5% from the November 15th total of 114,200 shares. Based on an average trading volume of 582,500 shares, the short-interest ratio is currently 0.2 days.

The Gabelli Equity Trust Stock Up 0.5 %

The Gabelli Equity Trust stock traded up $0.03 during mid-day trading on Tuesday, hitting $5.53. 499,861 shares of the stock were exchanged, compared to its average volume of 576,325. The firm’s fifty day simple moving average is $5.57 and its two-hundred day simple moving average is $5.46. The Gabelli Equity Trust has a 12 month low of $4.96 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 Friday, December 20th. Shareholders of record on Friday, December 13th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 10.85%. The ex-dividend date of this dividend is Friday, December 13th.

Hedge Funds Weigh In On The Gabelli Equity Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Concourse Financial Group Securities Inc. lifted its position in shares of The Gabelli Equity Trust by 252.9% during the 2nd quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider’s stock worth $31,000 after buying an additional 4,300 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of The Gabelli Equity Trust during the 2nd quarter valued at $31,000. CNB Bank bought a new position in The Gabelli Equity Trust during the third quarter valued at approximately $38,000. Triton Wealth Management PLLC purchased a new stake in The Gabelli Equity Trust during the 3rd quarter valued at about $60,000. Finally, Kapstone Financial Advisors LLC purchased a new position in shares of The Gabelli Equity Trust in the second quarter valued at about $61,000. Institutional investors own 7.24% of the company’s stock.

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.