Gabelli Commercial Aerospace & Defense ETF (NYSEARCA:GCAD – Get Free Report) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 2,836 shares, a drop of 47.1% from the September 30th total of 5,356 shares. Based on an average trading volume of 4,568 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.3% of the company’s stock are sold short.
Gabelli Commercial Aerospace & Defense ETF Trading Down 2.3%
Shares of GCAD traded down $1.15 during trading hours on Friday, hitting $48.86. The company had a trading volume of 3,210 shares, compared to its average volume of 6,111. The company has a market capitalization of $43.97 million, a PE ratio of 29.49 and a beta of 0.87. Gabelli Commercial Aerospace & Defense ETF has a one year low of $44.00 and a one year high of $59.11. The company’s fifty day moving average price is $49.62 and its two-hundred day moving average price is $52.59.
Hedge Funds Weigh In On Gabelli Commercial Aerospace & Defense ETF
A number of large investors have recently added to or reduced their stakes in GCAD. National Wealth Management Group LLC lifted its position in shares of Gabelli Commercial Aerospace & Defense ETF by 33.6% during the third quarter. National Wealth Management Group LLC now owns 62,905 shares of the company’s stock valued at $3,052,000 after buying an additional 15,829 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of Gabelli Commercial Aerospace & Defense ETF in the 2nd quarter worth approximately $347,000. Parallel Advisors LLC purchased a new position in shares of Gabelli Commercial Aerospace & Defense ETF in the 1st quarter worth approximately $30,000. Gabelli Funds LLC grew its position in shares of Gabelli Commercial Aerospace & Defense ETF by 783.3% in the 1st quarter. Gabelli Funds LLC now owns 132,500 shares of the company’s stock worth $6,589,000 after buying an additional 117,500 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of Gabelli Commercial Aerospace & Defense ETF by 14.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 176,429 shares of the company’s stock worth $8,774,000 after acquiring an additional 22,235 shares in the last quarter.
About Gabelli Commercial Aerospace & Defense ETF
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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