Short Interest in The Gabelli Equity Trust Inc. (NYSE:GAB) Grows By 276.5%

The Gabelli Equity Trust Inc. (NYSE:GAB) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 845,300 shares, a growth of 276.5% from the February 28th total of 224,500 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 579,800 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Investors Weigh In On The Gabelli Equity Trust

Several hedge funds have recently bought and sold shares of the company. Kentucky Trust Co bought a new stake in The Gabelli Equity Trust in the fourth quarter valued at approximately $40,000. Aurora Private Wealth Inc. bought a new stake in The Gabelli Equity Trust in the 4th quarter valued at $56,000. Bank of Montreal Can acquired a new stake in The Gabelli Equity Trust during the 4th quarter valued at $56,000. Strategic Financial Concepts LLC acquired a new stake in The Gabelli Equity Trust during the 4th quarter valued at $58,000. Finally, Elequin Capital LP acquired a new position in shares of The Gabelli Equity Trust in the fourth quarter valued at $69,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Equity Trust Trading Down 0.8 %

Shares of NYSE GAB traded down $0.05 during trading hours on Friday, hitting $5.50. The company had a trading volume of 446,099 shares, compared to its average volume of 557,715. The Gabelli Equity Trust has a 1-year low of $5.09 and a 1-year high of $5.85. The firm’s 50 day moving average is $5.54 and its 200-day moving average is $5.52.

The Gabelli Equity Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.92%. The ex-dividend date of this dividend was 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.