The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Down 9.5% in November

The Gabelli Equity Trust Inc. (NYSE:GAB) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 103,400 shares, a decline of 9.5% from the November 15th total of 114,200 shares. Based on an average daily volume of 582,500 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of The Gabelli Equity Trust

Large investors have recently added to or reduced their stakes in the company. Legacy Wealth Management LLC MS bought a new position in The Gabelli Equity Trust in the 3rd quarter worth approximately $269,000. Arete Wealth Advisors LLC acquired a new position in The Gabelli Equity Trust during the 3rd quarter valued at about $85,000. Executive Wealth Management LLC acquired a new position in The Gabelli Equity Trust during the 3rd quarter valued at about $82,000. LRI Investments LLC acquired a new stake in shares of The Gabelli Equity Trust during the 3rd quarter worth approximately $90,000. Finally, HighTower Advisors LLC raised its stake in shares of The Gabelli Equity Trust by 13.3% during the third quarter. HighTower Advisors LLC now owns 84,531 shares of the financial services provider’s stock worth $462,000 after buying an additional 9,914 shares during the last quarter. 7.24% of the stock is owned by institutional investors.

The Gabelli Equity Trust Price Performance

Shares of The Gabelli Equity Trust stock traded up $0.03 during midday trading on Tuesday, hitting $5.53. 499,861 shares of the company were exchanged, compared to its average volume of 576,325. The firm has a 50 day simple moving average of $5.57 and a 200-day simple moving average of $5.46. The Gabelli Equity Trust has a 52 week low of $4.96 and a 52 week high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 10.85%. The ex-dividend date of this dividend is Friday, December 13th.

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.