Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD – Get Free Report) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 37,332 shares, an increase of 633.3% from the May 31st total of 5,091 shares. Approximately 6.2% of the company’s shares are sold short. Based on an average daily trading volume, of 8,314 shares, the days-to-cover ratio is currently 4.5 days.
Hedge Funds Weigh In On Gabelli Commercial Aerospace & Defense ETF
A number of large investors have recently made changes to their positions in GCAD. Parallel Advisors LLC bought a new position in Gabelli Commercial Aerospace & Defense ETF during the 1st quarter valued at about $30,000. Gabelli Funds LLC lifted its stake in Gabelli Commercial Aerospace & Defense ETF by 783.3% in the first quarter. Gabelli Funds LLC now owns 132,500 shares of the company’s stock worth $6,589,000 after purchasing an additional 117,500 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in Gabelli Commercial Aerospace & Defense ETF by 14.4% in the first quarter. Gamco Investors INC. ET AL now owns 176,429 shares of the company’s stock worth $8,774,000 after purchasing an additional 22,235 shares during the last quarter.
Gabelli Commercial Aerospace & Defense ETF Stock Performance
GCAD stock traded up $0.35 during mid-day trading on Friday, reaching $55.54. 3,608 shares of the stock traded hands, compared to its average volume of 6,070. Gabelli Commercial Aerospace & Defense ETF has a one year low of $40.99 and a one year high of $59.11. The stock has a market capitalization of $33.32 million, a PE ratio of 29.49 and a beta of 0.88. The business has a 50-day moving average price of $53.15 and a two-hundred day moving average price of $51.91.
Gabelli Commercial Aerospace & Defense ETF Company Profile
The Gabelli Commercial Aerospace & Defense ETF (GCAD) is an exchange-traded fund that mostly invests in industrials equity. The fund is an actively managed, non-transparent ETF that invests in income-producing equities in the US aerospace and defense industry. The fund utilizes the Precidian non-transparent model GCAD was launched on Jan 3, 2023 and is managed by Gabelli.
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