The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Down 62.3% in September

The Gabelli Equity Trust Inc. (NYSE:GAB) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totalling 84,700 shares, a decrease of 62.3% from the September 15th total of 224,800 shares. Based on an average daily volume of 565,300 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On The Gabelli Equity Trust

Several hedge funds and other institutional investors have recently modified their holdings of GAB. Cohen & Steers Inc. boosted its stake in The Gabelli Equity Trust by 4.0% in the fourth quarter. Cohen & Steers Inc. now owns 903,640 shares of the financial services provider’s stock valued at $4,590,000 after buying an additional 35,000 shares in the last quarter. Virtu Financial LLC acquired a new stake in The Gabelli Equity Trust in the fourth quarter valued at $337,000. B. Riley Wealth Advisors Inc. raised its position in The Gabelli Equity Trust by 26.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 64,907 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 13,387 shares during the last quarter. Nomura Holdings Inc. acquired a new position in The Gabelli Equity Trust during the 4th quarter worth about $142,000. Finally, Cullen Investment Group LTD. bought a new stake in shares of The Gabelli Equity Trust in the 1st quarter valued at about $86,000. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Trading Down 0.6 %

NYSE:GAB opened at $5.40 on Friday. The stock has a fifty day moving average price of $5.42 and a 200-day moving average price of $5.40. The Gabelli Equity Trust has a fifty-two week low of $4.56 and a fifty-two week high of $5.74.

The Gabelli Equity Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 11.11%. The ex-dividend date was Monday, September 16th.

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.