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

The Gabelli Multimedia Trust Inc. (NYSE:GGT) was the recipient of a large drop in short interest in the month of 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 trading volume, of 74,200 shares, the short-interest ratio is currently 1.3 days.

The Gabelli Multimedia Trust Price Performance

The Gabelli Multimedia Trust stock opened at $5.05 on Thursday. The company’s 50-day moving average price is $4.80 and its two-hundred day moving average price is $5.08. The Gabelli Multimedia Trust has a 52 week low of $4.56 and a 52 week high of $6.25.

The Gabelli Multimedia Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 17.43%.

Institutional Trading of The Gabelli Multimedia Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wolverine Asset Management LLC bought a new stake in shares of The Gabelli Multimedia Trust in the 3rd quarter worth approximately $537,000. Atomi Financial Group Inc. raised its holdings in shares of The Gabelli Multimedia Trust by 7.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 53,947 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 3,854 shares in the last quarter. Quarry LP bought a new stake in shares of The Gabelli Multimedia Trust in the 2nd quarter worth approximately $438,000. NBC Securities Inc. bought a new stake in shares of The Gabelli Multimedia Trust in the 3rd quarter worth approximately $29,000. Finally, PFG Investments LLC bought a new stake in shares of The Gabelli Multimedia Trust in the 3rd quarter worth approximately $53,000. 10.63% of the stock is currently owned by institutional investors.

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.