Short Interest in The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) Drops By 32.3%

The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) was the target of a large decline in short interest in October. As of October 15th, there was short interest totaling 13,600 shares, a decline of 32.3% from the September 30th total of 20,100 shares. Based on an average trading volume of 12,300 shares, the short-interest ratio is currently 1.1 days. Based on an average trading volume of 12,300 shares, the short-interest ratio is currently 1.1 days.

The Gabelli Global Small and Mid Cap Value Trust Stock Down 0.3%

The Gabelli Global Small and Mid Cap Value Trust stock traded down $0.05 on Monday, reaching $14.07. 2,582 shares of the stock were exchanged, compared to its average volume of 13,284. The Gabelli Global Small and Mid Cap Value Trust has a twelve month low of $10.50 and a twelve month high of $14.86. The firm has a fifty day moving average price of $14.33 and a two-hundred day moving average price of $13.53.

The Gabelli Global Small and Mid Cap Value Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 16th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.64 dividend on an annualized basis and a yield of 4.6%.

Insider Activity at The Gabelli Global Small and Mid Cap Value Trust

In related news, insider Mario J. Gabelli purchased 750,000 shares of the stock in a transaction dated Friday, September 26th. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $7,500,000.00. Following the acquisition, the insider directly owned 750,000 shares in the company, valued at approximately $7,500,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wolverine Asset Management LLC raised its position in The Gabelli Global Small and Mid Cap Value Trust by 132.7% in the first quarter. Wolverine Asset Management LLC now owns 68,153 shares of the company’s stock worth $818,000 after purchasing an additional 38,870 shares in the last quarter. Beckerman Institutional LLC acquired a new position in The Gabelli Global Small and Mid Cap Value Trust in the first quarter worth about $364,000. Gamco Investors INC. ET AL raised its position in The Gabelli Global Small and Mid Cap Value Trust by 51.4% in the first quarter. Gamco Investors INC. ET AL now owns 47,830 shares of the company’s stock worth $574,000 after purchasing an additional 16,244 shares in the last quarter. Cornerstone Advisors LLC raised its position in The Gabelli Global Small and Mid Cap Value Trust by 227.0% in the first quarter. Cornerstone Advisors LLC now owns 21,181 shares of the company’s stock worth $254,000 after purchasing an additional 14,704 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC raised its position in The Gabelli Global Small and Mid Cap Value Trust by 11.9% in the third quarter. Blue Bell Private Wealth Management LLC now owns 131,781 shares of the company’s stock worth $1,904,000 after purchasing an additional 13,978 shares in the last quarter.

The Gabelli Global Small and Mid Cap Value Trust Company Profile

The Gabelli Global Small and Mid Cap Value Trust 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 across the globe. The fund seeks to invest in stocks of companies that are operating across diversified sectors.