Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Up 426.1% in May

Gabelli Equity Trust Inc. (NYSE:GAB) saw a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 135,871 shares, an increase of 426.1% from the May 14th total of 25,825 shares. Based on an average daily volume of 1,131,322 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Hedge Funds Weigh In On Gabelli Equity Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC grew its holdings in Gabelli Equity Trust by 2.1% during the fourth quarter. LPL Financial LLC now owns 4,462,497 shares of the financial services provider’s stock valued at $27,534,000 after purchasing an additional 93,789 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Gabelli Equity Trust by 1.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,516,560 shares of the financial services provider’s stock valued at $9,357,000 after purchasing an additional 28,926 shares during the last quarter. Cetera Investment Advisers grew its holdings in Gabelli Equity Trust by 1.1% during the fourth quarter. Cetera Investment Advisers now owns 674,300 shares of the financial services provider’s stock valued at $4,160,000 after purchasing an additional 7,320 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Gabelli Equity Trust by 1.0% during the fourth quarter. Wells Fargo & Company MN now owns 641,300 shares of the financial services provider’s stock valued at $3,957,000 after purchasing an additional 6,175 shares during the last quarter. Finally, Raymond James Financial Inc. grew its stake in shares of Gabelli Equity Trust by 14.6% in the third quarter. Raymond James Financial Inc. now owns 635,163 shares of the financial services provider’s stock worth $3,868,000 after acquiring an additional 80,781 shares during the last quarter. Institutional investors and hedge funds own 7.24% of the company’s stock.

Gabelli Equity Trust Trading Up 0.1%

GAB stock traded up $0.01 during midday trading on Wednesday, hitting $5.56. 954,300 shares of the company traded hands, compared to its average volume of 1,109,047. Gabelli Equity Trust has a twelve month low of $5.28 and a twelve month high of $6.37. The business has a 50 day simple moving average of $5.59 and a 200-day simple moving average of $5.89.

Gabelli Equity Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 10.8%. The ex-dividend date is Monday, June 15th.

About Gabelli Equity Trust

Gabelli Equity Trust, Inc (NYSE: GAB) is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.