The Gabelli Multimedia Trust Inc. (NYSE:GGT) Short Interest Down 5.7% in October

The Gabelli Multimedia Trust Inc. (NYSE:GGT) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 105,500 shares, a decrease of 5.7% from the October 15th total of 111,900 shares. Based on an average daily volume of 74,900 shares, the short-interest ratio is currently 1.4 days.

Institutional Investors Weigh In On The Gabelli Multimedia Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP grew its stake in The Gabelli Multimedia Trust by 322.5% in the third quarter. Quarry LP now owns 344,902 shares of the financial services provider’s stock worth $1,700,000 after purchasing an additional 263,269 shares in the last quarter. Wolverine Asset Management LLC bought a new position in The Gabelli Multimedia Trust during the 3rd quarter worth approximately $537,000. PFG Investments LLC acquired a new position in shares of The Gabelli Multimedia Trust in the 3rd quarter worth approximately $53,000. NBC Securities Inc. bought a new stake in shares of The Gabelli Multimedia Trust in the 3rd quarter valued at approximately $29,000. Finally, Atomi Financial Group Inc. raised its position in shares of The Gabelli Multimedia Trust by 7.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 53,947 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 3,854 shares in the last quarter. Institutional investors own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Stock Performance

GGT stock opened at $4.77 on Tuesday. The stock’s 50 day moving average is $4.81 and its two-hundred day moving average is $5.13. The Gabelli Multimedia Trust has a 52-week low of $4.56 and a 52-week high of $6.25.

The Gabelli Multimedia Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 18.45%.

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.