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

The Gabelli Multimedia Trust Inc. (NYSE:GGT) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 110,300 shares, a decrease 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 currently 1.2 days.

Hedge Funds Weigh In On The Gabelli Multimedia Trust

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

The Gabelli Multimedia Trust Stock Performance

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

The Gabelli Multimedia Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend 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.