The Gabelli Multimedia Trust Inc. (NYSE:GGT) Short Interest Down 13.8% in December

The Gabelli Multimedia Trust Inc. (NYSE:GGT) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 110,300 shares, a drop of 13.8% from the December 15th total of 128,000 shares. Based on an average daily trading volume, of 95,100 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On The Gabelli Multimedia Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in The Gabelli Multimedia Trust during the 2nd quarter valued at $438,000. Atomi Financial Group Inc. raised its stake in shares of The Gabelli Multimedia Trust by 7.7% during the third quarter. Atomi Financial Group Inc. now owns 53,947 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 3,854 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of The Gabelli Multimedia Trust during the third quarter valued at about $29,000. PFG Investments LLC acquired a new stake in The Gabelli Multimedia Trust in the third quarter worth about $53,000. Finally, Wolverine Asset Management LLC bought a new position in The Gabelli Multimedia Trust in the 3rd quarter valued at about $537,000. 10.63% of the stock is owned by institutional investors.

The Gabelli Multimedia Trust Price Performance

The Gabelli Multimedia Trust stock remained flat at $4.71 during midday trading on Friday. 48,546 shares of the company’s stock were exchanged, compared to its average volume of 105,471. The Gabelli Multimedia Trust has a 52-week low of $4.45 and a 52-week high of $6.12. The stock has a fifty day moving average price of $4.78 and a two-hundred day moving average price of $4.87.

The Gabelli Multimedia Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 18.68%.

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.