The Gabelli Equity Trust Inc. (NYSE:GAB) Short Interest Down 67.1% in January

The Gabelli Equity Trust Inc. (NYSE:GAB) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 83,900 shares, a drop of 67.1% from the January 15th total of 255,000 shares. Based on an average daily volume of 576,200 shares, the days-to-cover ratio is currently 0.1 days.

The Gabelli Equity Trust Stock Up 0.1 %

NYSE:GAB traded up $0.01 during midday trading on Wednesday, hitting $5.56. The company had a trading volume of 589,151 shares, compared to its average volume of 445,087. The stock’s fifty day moving average price is $5.52 and its 200-day moving average price is $5.49. The Gabelli Equity Trust has a 52-week low of $5.09 and a 52-week high of $5.85.

The Gabelli Equity Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.80%.

Institutional Investors Weigh In On The Gabelli Equity Trust

A number of large investors have recently modified their holdings of GAB. Shaker Financial Services LLC boosted its position in The Gabelli Equity Trust by 413.3% during the 3rd quarter. Shaker Financial Services LLC now owns 652,653 shares of the financial services provider’s stock valued at $3,583,000 after acquiring an additional 525,502 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of The Gabelli Equity Trust by 77.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 155,379 shares of the financial services provider’s stock valued at $853,000 after purchasing an additional 67,889 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new stake in The Gabelli Equity Trust in the third quarter worth $648,000. HighTower Advisors LLC raised its holdings in The Gabelli Equity Trust by 13.3% in the third quarter. HighTower Advisors LLC now owns 84,531 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 9,914 shares in the last quarter. Finally, Kera Capital Partners Inc. purchased a new position in The Gabelli Equity Trust during the 4th quarter valued at about $569,000. Institutional investors own 7.24% of the company’s stock.

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.