The Gabelli Multimedia Trust Inc. (NYSE:GGT) Short Interest Down 13.8% in December

The Gabelli Multimedia Trust Inc. (NYSE:GGT) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 110,300 shares, a decrease of 13.8% from the December 15th total of 128,000 shares. Based on an average daily volume of 95,100 shares, the days-to-cover ratio is currently 1.2 days.

The Gabelli Multimedia Trust Stock Performance

GGT stock remained flat at $4.71 during trading on Friday. 48,546 shares of the company traded hands, compared to its average volume of 105,471. The Gabelli Multimedia Trust has a one year low of $4.45 and a one year high of $6.12. The stock has a 50-day simple moving average of $4.78 and a 200 day simple moving average of $4.87.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 18.68%. The ex-dividend date was Friday, December 13th.

Institutional Trading of The Gabelli Multimedia Trust

Institutional investors have recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in The Gabelli Multimedia Trust during the 3rd quarter valued at about $29,000. PFG Investments LLC purchased a new stake in shares of The Gabelli Multimedia Trust during the 3rd quarter valued at about $53,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of The Gabelli Multimedia Trust by 94.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 44,320 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 21,501 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings 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 during the last quarter. Finally, Quarry LP purchased a new stake in shares of The Gabelli Multimedia Trust during the 2nd quarter valued at about $438,000. 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.