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

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Kentucky Trust Co acquired a new position in The Gabelli Equity Trust during the fourth quarter worth about $40,000. Aurora Private Wealth Inc. acquired a new position in The Gabelli Equity Trust during the fourth quarter worth about $56,000. Bank of Montreal Can acquired a new position in The Gabelli Equity Trust during the fourth quarter worth about $56,000. Strategic Financial Concepts LLC acquired a new position in The Gabelli Equity Trust during the fourth quarter worth about $58,000. Finally, Elequin Capital LP acquired a new position in The Gabelli Equity Trust during the fourth quarter worth about $69,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Up 1.7 %

GAB stock opened at $5.57 on Friday. The business has a 50-day simple moving average of $5.50 and a 200 day simple moving average of $5.51. The Gabelli Equity Trust has a 52 week low of $5.09 and a 52 week high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 10.78%. The ex-dividend date is Monday, March 17th.

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.