The Gabelli Multimedia Trust Inc. (NYSE:GGT) Sees Significant Decrease in Short Interest

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

The Gabelli Multimedia Trust Stock Performance

NYSE:GGT remained flat at $4.71 during trading hours on Friday. 48,546 shares of the company were exchanged, compared to its average volume of 105,471. The Gabelli Multimedia Trust has a 1 year low of $4.45 and a 1 year high of $6.12. The stock has a 50 day moving average price of $4.78 and a 200-day moving average price of $4.87.

The Gabelli Multimedia Trust Dividend Announcement

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

Institutional Investors Weigh In On The Gabelli Multimedia Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. 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 purchasing an additional 21,501 shares in the last quarter. Quarry LP boosted its holdings in shares of The Gabelli Multimedia Trust by 322.5% in the third quarter. Quarry LP now owns 344,902 shares of the financial services provider’s stock worth $1,700,000 after buying an additional 263,269 shares during the period. Wolverine Asset Management LLC acquired a new position in shares of The Gabelli Multimedia Trust in the third quarter worth about $537,000. PFG Investments LLC purchased a new position in shares of The Gabelli Multimedia Trust in the third quarter worth approximately $53,000. Finally, NBC Securities Inc. acquired a new stake in shares of The Gabelli Multimedia Trust during the third quarter valued at approximately $29,000. 10.63% of the stock is owned by institutional investors and hedge funds.

About The Gabelli Multimedia Trust

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.