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

The Gabelli Equity Trust Inc. (NYSE:GAB) was the recipient of a large 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 short-interest ratio is currently 0.2 days.

The Gabelli Equity Trust Stock Performance

Shares of The Gabelli Equity Trust stock traded down $0.02 on Friday, hitting $5.59. The company had a trading volume of 958,753 shares, compared to its average volume of 575,175. The Gabelli Equity Trust has a 1 year low of $4.96 and a 1 year high of $5.85. The stock has a 50 day moving average of $5.57 and a 200-day moving average of $5.46.

The Gabelli Equity Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 10.73%. The ex-dividend date is Friday, December 13th.

Hedge Funds Weigh In On The Gabelli Equity Trust

Large investors have recently bought and sold shares of the stock. PFG Investments LLC grew its holdings in shares of The Gabelli Equity Trust by 2.3% in the third quarter. PFG Investments LLC now owns 83,651 shares of the financial services provider’s stock valued at $459,000 after acquiring an additional 1,869 shares in the last quarter. Magnus Financial Group LLC grew its stake in The Gabelli Equity Trust by 2.7% in the 2nd quarter. Magnus Financial Group LLC now owns 78,166 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 2,063 shares during the period. Evernest Financial Advisors LLC increased its position in shares of The Gabelli Equity Trust by 2.8% during the 3rd quarter. Evernest Financial Advisors LLC now owns 99,398 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 2,663 shares during the last quarter. Brookstone Capital Management increased its position in shares of The Gabelli Equity Trust by 5.1% during the 2nd quarter. Brookstone Capital Management now owns 56,612 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 2,759 shares during the last quarter. Finally, IFG Advisory LLC raised its stake in shares of The Gabelli Equity Trust by 11.7% during the 2nd quarter. IFG Advisory LLC now owns 31,486 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 3,300 shares during the period. 7.24% of the stock is currently owned by institutional investors.

The Gabelli Equity Trust Company Profile

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.