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

The Gabelli Multimedia Trust Inc. (NYSE:GGT) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 100,100 shares, a decline of 5.1% from the October 31st total of 105,500 shares. Based on an average trading volume of 74,200 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Investors Weigh In On The Gabelli Multimedia Trust

Large investors have recently made changes to their positions in the company. NBC Securities Inc. acquired a new stake in shares of The Gabelli Multimedia Trust during the third quarter valued at approximately $29,000. PFG Investments LLC purchased a new position in The Gabelli Multimedia Trust during the third quarter valued at approximately $53,000. Atomi Financial Group Inc. grew its position in The Gabelli Multimedia Trust by 15.9% during the second quarter. Atomi Financial Group Inc. now owns 50,093 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 6,864 shares in the last quarter. Quarry LP purchased a new position in The Gabelli Multimedia Trust during the second quarter valued at approximately $438,000. Finally, Wolverine Asset Management LLC purchased a new position in The Gabelli Multimedia Trust during the third quarter valued at approximately $537,000. Institutional investors and hedge funds own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Stock Performance

GGT stock opened at $5.05 on Thursday. The Gabelli Multimedia Trust has a 52-week low of $4.56 and a 52-week high of $6.25. The company’s 50 day simple moving average is $4.80 and its 200-day simple moving average is $5.08.

The Gabelli Multimedia Trust Announces Dividend

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

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.