Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) Short Interest Down 80.5% in June

Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD) was the recipient of a large drop in short interest in June. As of June 30th, there was short interest totaling 7,277 shares, a drop of 80.5% from the June 15th total of 37,332 shares. Based on an average trading volume of 11,836 shares, the short-interest ratio is currently 0.6 days. Currently, 0.9% of the company’s shares are sold short.

Gabelli Commercial Aerospace & Defense ETF Stock Performance

Shares of NYSEARCA:GCAD traded down $0.25 during midday trading on Friday, reaching $55.07. The company’s stock had a trading volume of 5,177 shares, compared to its average volume of 6,220. Gabelli Commercial Aerospace & Defense ETF has a fifty-two week low of $41.36 and a fifty-two week high of $59.11. The firm has a 50 day moving average price of $54.06 and a two-hundred day moving average price of $52.59. The firm has a market capitalization of $44.06 million, a price-to-earnings ratio of 29.49 and a beta of 0.87.

Hedge Funds Weigh In On Gabelli Commercial Aerospace & Defense ETF

Institutional investors have recently added to or reduced their stakes in the business. Gabelli Funds LLC bought a new position in shares of Gabelli Commercial Aerospace & Defense ETF in the fourth quarter valued at $696,000. Gamco Investors INC. ET AL boosted its stake in Gabelli Commercial Aerospace & Defense ETF by 218.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 154,194 shares of the company’s stock valued at $7,158,000 after purchasing an additional 105,800 shares during the last quarter. Finally, Parallel Advisors LLC acquired a new position in Gabelli Commercial Aerospace & Defense ETF during the 1st quarter valued at about $30,000.

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.