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

The Gabelli Equity Trust Inc. (NYSE:GAB) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 224,500 shares, an increase 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 currently 0.4 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Investors Weigh In On The Gabelli Equity Trust

A number of large investors have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its stake in shares of The Gabelli Equity Trust by 28.3% during the 4th quarter. LPL Financial LLC now owns 3,520,427 shares of the financial services provider’s stock worth $18,940,000 after buying an additional 776,591 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of The Gabelli Equity Trust by 0.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,903,700 shares of the financial services provider’s stock worth $10,242,000 after acquiring an additional 12,503 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of The Gabelli Equity Trust in the fourth quarter valued at approximately $2,925,000. Cetera Investment Advisers increased its stake in shares of The Gabelli Equity Trust by 3.2% during the fourth quarter. Cetera Investment Advisers now owns 505,444 shares of the financial services provider’s stock worth $2,719,000 after purchasing an additional 15,690 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in The Gabelli Equity Trust during the 4th quarter worth approximately $2,614,000. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Down 0.5 %

Shares of The Gabelli Equity Trust stock traded down $0.03 during trading on Wednesday, hitting $5.51. 562,921 shares of the stock were exchanged, compared to its average volume of 463,572. The Gabelli Equity Trust has a 1-year low of $5.09 and a 1-year high of $5.85. The company has a fifty day moving average price of $5.52 and a 200-day moving average price of $5.52.

The Gabelli Equity Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 10.90%.

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.