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

The Gabelli Multimedia Trust Inc. (NYSE:GGT) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 190,400 shares, an increase of 8.7% from the March 15th total of 175,100 shares. Based on an average daily trading volume, of 57,200 shares, the days-to-cover ratio is currently 3.3 days.

Institutional Investors Weigh In On The Gabelli Multimedia Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Manhattan Co. purchased a new position in shares of The Gabelli Multimedia Trust during the first quarter worth approximately $44,000. Chilton Capital Management LLC purchased a new position in shares of The Gabelli Multimedia Trust during the first quarter worth approximately $34,000. Bank of America Corp DE raised its stake in shares of The Gabelli Multimedia Trust by 23.0% during the first quarter. Bank of America Corp DE now owns 10,328 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 1,933 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of The Gabelli Multimedia Trust during the third quarter worth approximately $62,000. Finally, Royal Bank of Canada raised its stake in shares of The Gabelli Multimedia Trust by 21.5% during the first quarter. Royal Bank of Canada now owns 11,093 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 1,966 shares in the last quarter. 10.63% of the stock is owned by hedge funds and other institutional investors.

The Gabelli Multimedia Trust Trading Down 1.9 %

Shares of The Gabelli Multimedia Trust stock traded down $0.10 on Monday, reaching $5.28. The stock had a trading volume of 86,561 shares, compared to its average volume of 59,133. The business’s 50 day moving average is $5.60 and its two-hundred day moving average is $5.50. The Gabelli Multimedia Trust has a 1 year low of $4.32 and a 1 year high of $7.00.

The Gabelli Multimedia Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 14th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 16.67%. The ex-dividend date of this dividend was Wednesday, March 13th.

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.