Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) Stock Short Interest Declines 47.1%

Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 2,836 shares, a decrease of 47.1% from the September 30th total of 5,356 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 4,568 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. National Wealth Management Group LLC raised its stake in Gabelli Commercial Aerospace & Defense ETF by 33.6% in the third quarter. National Wealth Management Group LLC now owns 62,905 shares of the company’s stock valued at $3,052,000 after buying an additional 15,829 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Gabelli Commercial Aerospace & Defense ETF during the 2nd quarter worth about $347,000. Parallel Advisors LLC purchased a new stake in Gabelli Commercial Aerospace & Defense ETF during the 1st quarter valued at about $30,000. Gabelli Funds LLC grew its stake in Gabelli Commercial Aerospace & Defense ETF by 783.3% during the 1st quarter. Gabelli Funds LLC now owns 132,500 shares of the company’s stock valued at $6,589,000 after purchasing an additional 117,500 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Gabelli Commercial Aerospace & Defense ETF by 14.4% in the first quarter. Gamco Investors INC. ET AL now owns 176,429 shares of the company’s stock valued at $8,774,000 after purchasing an additional 22,235 shares during the period.

Gabelli Commercial Aerospace & Defense ETF Trading Down 2.3%

Shares of GCAD traded down $1.15 during midday trading on Friday, hitting $48.86. 3,210 shares of the company’s stock traded hands, compared to its average volume of 6,111. The stock has a market capitalization of $43.97 million, a price-to-earnings ratio of 29.49 and a beta of 0.87. Gabelli Commercial Aerospace & Defense ETF has a 1 year low of $44.00 and a 1 year high of $59.11. The firm’s fifty day moving average is $49.62 and its 200-day moving average is $52.59.

Gabelli Commercial Aerospace & Defense ETF Company Profile

The Gabelli Commercial Aerospace & Defense ETF (GCAD) is an exchange-traded fund that mostly invests in industrials equity. The fund is an actively managed, non-transparent ETF that invests in income-producing equities in the US aerospace and defense industry. The fund utilizes the Precidian non-transparent model GCAD was launched on Jan 3, 2023 and is managed by Gabelli.