The Gabelli Multimedia Trust Inc. (NYSE:GGT) Short Interest Update

The Gabelli Multimedia Trust Inc. (NYSE:GGT) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 110,300 shares, a decline of 13.8% from the December 15th total of 128,000 shares. Based on an average daily volume of 95,100 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On The Gabelli Multimedia Trust

Institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. bought a new position in The Gabelli Multimedia Trust in the 3rd quarter worth about $29,000. PFG Investments LLC bought a new position in The Gabelli Multimedia Trust in the 3rd quarter worth about $53,000. Wealth Enhancement Advisory Services LLC increased its stake in The Gabelli Multimedia Trust by 94.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 44,320 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 21,501 shares during the last quarter. Atomi Financial Group Inc. increased its stake in The Gabelli Multimedia Trust by 7.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 53,947 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 3,854 shares during the last quarter. Finally, Quarry LP bought a new position in The Gabelli Multimedia Trust in the 2nd quarter worth about $438,000. 10.63% of the stock is currently owned by institutional investors.

The Gabelli Multimedia Trust Stock Performance

Shares of NYSE:GGT remained flat at $4.71 during midday trading on Friday. The company had a trading volume of 48,546 shares, compared to its average volume of 105,471. The Gabelli Multimedia Trust has a 12 month low of $4.45 and a 12 month high of $6.12. The business’s 50 day moving average price is $4.78 and its two-hundred day moving average price is $4.87.

The Gabelli Multimedia Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 18.68%.

The Gabelli Multimedia Trust Company Profile

The Gabelli Multimedia Trust Inc is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds LLC. The fund invests in the public equity markets across the globe. It invests in stocks, convertible securities, preferred stock, options, and warrants of companies operating across global telecommunications, media, publishing, and entertainment industries.