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

Gabelli Multimedia Trust Inc. (NYSE:GGT) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totaling 78,827 shares, a growth of 57.5% from the December 31st total of 50,051 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 240,018 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 240,018 shares, the short-interest ratio is presently 0.3 days. Currently, 0.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On Gabelli Multimedia Trust

Several hedge funds have recently made changes to their positions in GGT. Balyasny Asset Management L.P. bought a new stake in shares of Gabelli Multimedia Trust in the 2nd quarter worth approximately $537,000. Wolverine Asset Management LLC acquired a new stake in shares of Gabelli Multimedia Trust during the 2nd quarter valued at $363,000. PMG Family Office LLC acquired a new position in shares of Gabelli Multimedia Trust in the 3rd quarter worth $301,000. Kestra Private Wealth Services LLC grew its holdings in shares of Gabelli Multimedia Trust by 8.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 36,748 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 2,882 shares during the last quarter. Finally, Fisher Asset Management LLC purchased a new stake in shares of Gabelli Multimedia Trust during the third quarter valued at $100,000. Institutional investors and hedge funds own 10.63% of the company’s stock.

Gabelli Multimedia Trust Trading Down 0.1%

Shares of Gabelli Multimedia Trust stock traded down $0.01 on Monday, hitting $4.20. The company had a trading volume of 101,161 shares, compared to its average volume of 221,760. Gabelli Multimedia Trust has a 52 week low of $3.75 and a 52 week high of $4.94. The business has a 50-day simple moving average of $4.17 and a 200-day simple moving average of $4.17.

Gabelli Multimedia Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th will be paid a dividend of $0.08 per share. This is an increase from Gabelli Multimedia Trust’s previous monthly dividend of $0.07. This represents a c) annualized dividend and a yield of 22.9%. The ex-dividend date of this dividend is Tuesday, March 17th.

Gabelli Multimedia Trust Company Profile

Gabelli Multimedia Trust Inc (NYSE: GGT) is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in the common stocks of companies engaged in the multimedia and communications sectors. The trust’s portfolio is concentrated in industries such as cable and satellite television, wireless and wireline telecommunications, radio and broadcasting, print and digital publishing, and internet services. Through selective security selection, Gabelli Multimedia Trust aims to capture growth opportunities driven by evolving content delivery platforms and technological innovation.

Since its initial public offering in December 1987, the trust has been managed by Gabelli Funds, LLC, an affiliate of GAMCO Investors, Inc, under the direction of veteran investors led by Mario J.