The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) Sees Large Decrease in Short Interest

The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 13,600 shares, a decrease of 32.3% from the September 30th total of 20,100 shares. Based on an average daily trading volume, of 12,300 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily trading volume, of 12,300 shares, the days-to-cover ratio is presently 1.1 days.

The Gabelli Global Small and Mid Cap Value Trust Trading Up 0.3%

Shares of NYSE:GGZ opened at $14.10 on Friday. The Gabelli Global Small and Mid Cap Value Trust has a 12-month low of $10.50 and a 12-month high of $14.86. The business’s fifty day simple moving average is $14.33 and its 200-day simple moving average is $13.50.

The Gabelli Global Small and Mid Cap Value Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 16th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.5%. The ex-dividend date was Tuesday, September 16th.

Insider Activity

In related news, insider Mario J. Gabelli purchased 750,000 shares of the business’s stock in a transaction dated Friday, September 26th. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $7,500,000.00. Following the acquisition, the insider owned 750,000 shares of the company’s stock, valued at $7,500,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in The Gabelli Global Small and Mid Cap Value Trust by 1.5% during the 2nd quarter. Bank of America Corp DE now owns 88,235 shares of the company’s stock worth $1,175,000 after buying an additional 1,335 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its stake in The Gabelli Global Small and Mid Cap Value Trust by 3.7% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 106,058 shares of the company’s stock worth $1,273,000 after buying an additional 3,800 shares during the last quarter. Silverlake Wealth Management LLC grew its stake in The Gabelli Global Small and Mid Cap Value Trust by 32.0% during the 2nd quarter. Silverlake Wealth Management LLC now owns 18,658 shares of the company’s stock worth $249,000 after buying an additional 4,524 shares during the last quarter. Raymond James Financial Inc. grew its stake in The Gabelli Global Small and Mid Cap Value Trust by 14.6% during the 2nd quarter. Raymond James Financial Inc. now owns 38,887 shares of the company’s stock valued at $518,000 after purchasing an additional 4,940 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in The Gabelli Global Small and Mid Cap Value Trust by 5.2% during the 3rd quarter. 180 Wealth Advisors LLC now owns 110,359 shares of the company’s stock valued at $1,595,000 after purchasing an additional 5,418 shares during the last quarter.

About The Gabelli Global Small and Mid Cap Value Trust

The Gabelli Global Small and Mid Cap Value Trust 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 across the globe. The fund seeks to invest in stocks of companies that are operating across diversified sectors.