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

The Gabelli Multimedia Trust Inc. (NYSE:GGT) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 155,600 shares, an increase of 37.1% from the February 28th total of 113,500 shares. Based on an average daily trading volume, of 97,200 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position 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 worth $218,000 after buying an additional 21,501 shares in the last quarter. Absolute Investment Advisers LLC acquired a new stake in shares of The Gabelli Multimedia Trust in the fourth quarter valued at about $2,222,000. Quarry LP raised its holdings in The Gabelli Multimedia Trust by 322.5% during the third quarter. Quarry LP now owns 344,902 shares of the financial services provider’s stock worth $1,700,000 after acquiring an additional 263,269 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in The Gabelli Multimedia Trust by 2.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 594,648 shares of the financial services provider’s stock valued at $2,652,000 after purchasing an additional 16,656 shares during the last quarter. Finally, One Capital Management LLC bought a new position in The Gabelli Multimedia Trust in the fourth quarter valued at approximately $50,000. Institutional investors own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Trading Down 0.1 %

NYSE GGT traded down $0.01 during trading on Tuesday, hitting $4.63. The stock had a trading volume of 59,713 shares, compared to its average volume of 90,492. The Gabelli Multimedia Trust has a 12 month low of $4.45 and a 12 month high of $5.98. The company’s 50-day moving average price is $4.80 and its two-hundred day moving average price is $4.79.

The Gabelli Multimedia Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 19.03%. The ex-dividend date was Monday, March 17th.

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.