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

The Gabelli Multimedia Trust Inc. (NYSE:GGT) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 226,000 shares, a growth of 9.5% from the May 31st total of 206,300 shares. Based on an average trading volume of 72,800 shares, the short-interest ratio is currently 3.1 days.

Institutional Trading of The Gabelli Multimedia Trust

A number of institutional investors and hedge funds have recently made changes to their positions in GGT. Beacon Capital Management LLC acquired a new stake in The Gabelli Multimedia Trust during the first quarter worth about $32,000. Belpointe Asset Management LLC acquired a new position in shares of The Gabelli Multimedia Trust during the third quarter worth $82,000. Telos Capital Management Inc. acquired a new stake in The Gabelli Multimedia Trust during the fourth quarter valued at approximately $149,000. Finally, Commonwealth Equity Services LLC lifted its holdings in The Gabelli Multimedia Trust by 11.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 505,595 shares of the financial services provider’s stock worth $2,862,000 after buying an additional 51,151 shares during the last quarter. 10.63% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Multimedia Trust Trading Up 1.1 %

Shares of GGT opened at $5.42 on Tuesday. The Gabelli Multimedia Trust has a fifty-two week low of $4.32 and a fifty-two week high of $6.80. The stock has a fifty day moving average of $5.61 and a two-hundred day moving average of $5.58.

The Gabelli Multimedia Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 16.24%. The ex-dividend date was Thursday, June 13th.

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.