The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Up 353.4% in December

The Gabelli Equity Trust Inc. (NYSE:GAB) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 468,800 shares, an increase of 353.4% from the November 30th total of 103,400 shares. Based on an average daily trading volume, of 595,800 shares, the short-interest ratio is currently 0.8 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Concourse Financial Group Securities Inc. lifted its stake in The Gabelli Equity Trust by 252.9% in the second quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 4,300 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of The Gabelli Equity Trust by 244.9% during the second quarter. International Assets Investment Management LLC now owns 406,176 shares of the financial services provider’s stock worth $2,112,000 after purchasing an additional 288,400 shares in the last quarter. Rothschild Investment LLC purchased a new position in The Gabelli Equity Trust in the second quarter valued at $31,000. IFG Advisory LLC raised its stake in The Gabelli Equity Trust by 11.7% in the second quarter. IFG Advisory LLC now owns 31,486 shares of the financial services provider’s stock valued at $164,000 after buying an additional 3,300 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in The Gabelli Equity Trust by 8.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,789,806 shares of the financial services provider’s stock worth $14,507,000 after buying an additional 216,440 shares during the last quarter. 7.24% of the stock is owned by institutional investors and hedge funds.

The Gabelli Equity Trust Trading Down 1.5 %

Shares of NYSE GAB traded down $0.08 during trading on Friday, reaching $5.37. The stock had a trading volume of 658,268 shares, compared to its average volume of 588,018. The Gabelli Equity Trust has a fifty-two week low of $4.96 and a fifty-two week high of $5.85. The business’s 50-day moving average price is $5.57 and its 200-day moving average price is $5.45.

The Gabelli Equity Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were issued a $0.15 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a yield of 11.17%.

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.