Short Interest in The Gabelli Multimedia Trust Inc. (NYSE:GGT) Increases By 8.7%

The Gabelli Multimedia Trust Inc. (NYSE:GGT) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 190,400 shares, a growth of 8.7% from the March 15th total of 175,100 shares. Based on an average daily volume of 57,200 shares, the days-to-cover ratio is currently 3.3 days.

Hedge Funds Weigh In On The Gabelli Multimedia Trust

A number of institutional investors have recently modified their holdings of GGT. Gamco Investors INC. ET AL raised its holdings in The Gabelli Multimedia Trust by 1.6% during the second quarter. Gamco Investors INC. ET AL now owns 1,214,380 shares of the financial services provider’s stock worth $7,985,000 after buying an additional 19,132 shares during the last quarter. LPL Financial LLC increased its holdings in The Gabelli Multimedia Trust by 4.5% during the 1st quarter. LPL Financial LLC now owns 280,051 shares of the financial services provider’s stock worth $1,579,000 after purchasing an additional 12,020 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of The Gabelli Multimedia Trust by 97.6% in the third quarter. Atomi Financial Group Inc. now owns 85,886 shares of the financial services provider’s stock valued at $506,000 after purchasing an additional 42,429 shares in the last quarter. UBS Group AG lifted its holdings in shares of The Gabelli Multimedia Trust by 121.2% in the fourth quarter. UBS Group AG now owns 34,585 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 18,947 shares in the last quarter. Finally, Atria Wealth Solutions Inc. bought a new stake in The Gabelli Multimedia Trust during the third quarter worth $187,000. 10.63% of the stock is owned by institutional investors and hedge funds.

The Gabelli Multimedia Trust Price Performance

Shares of NYSE GGT traded up $0.02 during trading on Wednesday, hitting $5.30. 19,618 shares of the company traded hands, compared to its average volume of 59,756. The business’s fifty day moving average is $5.59 and its 200 day moving average is $5.49. The Gabelli Multimedia Trust has a fifty-two week low of $4.32 and a fifty-two week high of $7.00.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 14th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.88 annualized dividend and a yield of 16.60%.

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.