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

The Gabelli Equity Trust Inc. (NYSE:GAB) was the target of a large increase in short interest during 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 volume of 595,800 shares, the short-interest ratio is currently 0.8 days.

The Gabelli Equity Trust Price Performance

Shares of The Gabelli Equity Trust stock traded up $0.03 on Thursday, hitting $5.45. The company’s stock had a trading volume of 375,372 shares, compared to its average volume of 587,736. The Gabelli Equity Trust has a 52-week low of $4.96 and a 52-week high of $5.85. The firm has a fifty day moving average price of $5.57 and a 200-day moving average price of $5.45.

The Gabelli Equity Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 11.01%. The ex-dividend date was Friday, December 13th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. International Assets Investment Management LLC lifted its stake in shares of The Gabelli Equity Trust by 466.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,301,030 shares of the financial services provider’s stock valued at $12,633,000 after purchasing an additional 1,894,854 shares during the last quarter. Shaker Financial Services LLC raised its position in The Gabelli Equity Trust by 413.3% in the 3rd quarter. Shaker Financial Services LLC now owns 652,653 shares of the financial services provider’s stock valued at $3,583,000 after purchasing an additional 525,502 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of The Gabelli Equity Trust by 8.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,789,806 shares of the financial services provider’s stock valued at $14,507,000 after purchasing an additional 216,440 shares during the last quarter. Consolidated Portfolio Review Corp acquired a new stake in The Gabelli Equity Trust in the third quarter worth about $648,000. Finally, Wolverine Asset Management LLC raised its position in shares of The Gabelli Equity Trust by 435.6% during the 3rd quarter. Wolverine Asset Management LLC now owns 121,044 shares of the financial services provider’s stock valued at $665,000 after acquiring an additional 98,444 shares during the last quarter. 7.24% of the stock is owned by institutional investors and hedge funds.

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.