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

The Gabelli Multimedia Trust Inc. (NYSE:GGT) saw a significant decrease in short interest in 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 trading volume, of 74,900 shares, the short-interest ratio is currently 1.4 days.

The Gabelli Multimedia Trust Stock Down 0.4 %

Shares of NYSE GGT opened at $4.76 on Monday. The Gabelli Multimedia Trust has a 12-month low of $4.56 and a 12-month high of $6.25. The stock’s fifty day simple moving average is $4.82 and its two-hundred day simple moving average is $5.14.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be issued a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 18.49%.

Institutional Trading of The Gabelli Multimedia Trust

Hedge funds have recently modified their holdings of the company. Beacon Capital Management LLC bought a new position in shares of The Gabelli Multimedia Trust during the 1st quarter worth approximately $32,000. Atomi Financial Group Inc. grew its holdings in The Gabelli Multimedia Trust by 15.9% in the second quarter. Atomi Financial Group Inc. now owns 50,093 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 6,864 shares during the last quarter. Quarry LP acquired a new position in shares of The Gabelli Multimedia Trust during the second quarter worth $438,000. NBC Securities Inc. purchased a new stake in shares of The Gabelli Multimedia Trust during the 3rd quarter valued at $29,000. Finally, PFG Investments LLC acquired a new stake in shares of The Gabelli Multimedia Trust in the 3rd quarter worth $53,000. 10.63% of the stock is owned by hedge funds and other 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.