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

The Gabelli Multimedia Trust Inc. (NYSE:GGT) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 100,100 shares, a drop of 5.1% from the October 31st total of 105,500 shares. Based on an average daily volume of 74,200 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Trading of The Gabelli Multimedia Trust

A number of institutional investors have recently bought and sold shares of GGT. Atomi Financial Group Inc. lifted its position 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 worth $266,000 after acquiring an additional 3,854 shares during the period. NBC Securities Inc. purchased a new stake in The Gabelli Multimedia Trust in the third quarter valued at approximately $29,000. PFG Investments LLC acquired a new position in The Gabelli Multimedia Trust in the 3rd quarter worth approximately $53,000. Quarry LP purchased a new position in The Gabelli Multimedia Trust during the 2nd quarter worth approximately $438,000. Finally, Wolverine Asset Management LLC acquired a new stake in The Gabelli Multimedia Trust during the 3rd quarter valued at approximately $537,000. 10.63% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Multimedia Trust Stock Down 0.8 %

Shares of NYSE:GGT opened at $5.03 on Wednesday. The business’s 50-day moving average is $4.79 and its 200 day moving average is $5.09. The Gabelli Multimedia Trust has a 1 year low of $4.56 and a 1 year high of $6.25.

The Gabelli Multimedia Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 17.50%. The ex-dividend date of this dividend is Friday, December 13th.

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.