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

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

The Gabelli Multimedia Trust Price Performance

Shares of GGT opened at $5.27 on Thursday. The Gabelli Multimedia Trust has a 12-month low of $4.32 and a 12-month high of $6.80. The firm has a fifty day moving average price of $5.60 and a 200-day moving average price of $5.57.

The Gabelli Multimedia Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Thursday, June 13th were given a $0.22 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.88 annualized dividend and a yield of 16.70%.

Hedge Funds Weigh In On The Gabelli Multimedia Trust

A number of hedge funds have recently added to or reduced their stakes in GGT. Commonwealth Equity Services LLC boosted its holdings in shares of The Gabelli Multimedia Trust by 11.3% in the first quarter. Commonwealth Equity Services LLC now owns 505,595 shares of the financial services provider’s stock valued at $2,862,000 after purchasing an additional 51,151 shares during the period. Telos Capital Management Inc. purchased a new stake in shares of The Gabelli Multimedia Trust in the 4th quarter worth $149,000. Belpointe Asset Management LLC bought a new position in shares of The Gabelli Multimedia Trust during the 3rd quarter worth $82,000. Finally, Beacon Capital Management LLC purchased a new position in shares of The Gabelli Multimedia Trust during the first quarter valued at $32,000. 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.