Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD – Get Free Report) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 1,596 shares, a drop of 88.9% from the July 30th total of 14,407 shares. Based on an average daily trading volume, of 5,382 shares, the short-interest ratio is presently 0.3 days. Approximately 0.2% of the company’s stock are short sold.
Gabelli Commercial Aerospace & Defense ETF Price Performance
GCAD stock traded down $0.11 during midday trading on Thursday, hitting $52.88. The stock had a trading volume of 5,137 shares, compared to its average volume of 6,476. The business has a 50-day moving average of $55.43 and a two-hundred day moving average of $53.71. The firm has a market cap of $42.30 million, a price-to-earnings ratio of 29.49 and a beta of 0.87. Gabelli Commercial Aerospace & Defense ETF has a 52-week low of $42.90 and a 52-week high of $59.11.
Hedge Funds Weigh In On Gabelli Commercial Aerospace & Defense ETF
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Gabelli Funds LLC purchased a new position in shares of Gabelli Commercial Aerospace & Defense ETF during the fourth quarter valued at approximately $696,000. Gamco Investors INC. ET AL grew its stake in shares of Gabelli Commercial Aerospace & Defense ETF by 14.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 176,429 shares of the company’s stock worth $8,774,000 after buying an additional 22,235 shares during the last quarter. Finally, Parallel Advisors LLC bought a new position in Gabelli Commercial Aerospace & Defense ETF during the 1st quarter valued at approximately $30,000.
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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