The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Up 498.7% in February

The Gabelli Equity Trust Inc. (NYSE:GAB) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 224,500 shares, a growth of 498.7% from the February 13th total of 37,500 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 558,200 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On The Gabelli Equity Trust

Institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its holdings in The Gabelli Equity Trust by 28.3% during the 4th quarter. LPL Financial LLC now owns 3,520,427 shares of the financial services provider’s stock worth $18,940,000 after purchasing an additional 776,591 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of The Gabelli Equity Trust by 0.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,903,700 shares of the financial services provider’s stock worth $10,242,000 after buying an additional 12,503 shares during the period. Golden State Wealth Management LLC bought a new position in shares of The Gabelli Equity Trust during the fourth quarter worth about $2,925,000. Cetera Investment Advisers raised its position in The Gabelli Equity Trust by 3.2% in the 4th quarter. Cetera Investment Advisers now owns 505,444 shares of the financial services provider’s stock valued at $2,719,000 after buying an additional 15,690 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in The Gabelli Equity Trust in the 4th quarter valued at approximately $2,614,000. 7.24% of the stock is owned by institutional investors.

The Gabelli Equity Trust Price Performance

NYSE GAB traded up $0.07 during trading hours on Friday, reaching $5.53. 193,224 shares of the company’s stock were exchanged, compared to its average volume of 555,132. The company’s 50-day moving average is $5.52 and its two-hundred day moving average is $5.52. The Gabelli Equity Trust has a one year low of $5.09 and a one year high of $5.85.

The Gabelli Equity Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.86%. The ex-dividend date of this dividend is Monday, March 17th.

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.