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 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 days-to-cover ratio is presently 1.4 days.

The Gabelli Multimedia Trust Trading Up 0.2 %

Shares of The Gabelli Multimedia Trust stock opened at $4.77 on Tuesday. The Gabelli Multimedia Trust has a twelve month low of $4.56 and a twelve month high of $6.25. The business’s 50 day simple moving average is $4.81 and its 200-day simple moving average is $5.13.

The Gabelli Multimedia Trust Dividend Announcement

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

Hedge Funds Weigh In On The Gabelli Multimedia Trust

Several hedge funds and other institutional investors have recently modified their holdings of GGT. Quarry LP lifted its position in The Gabelli Multimedia Trust by 322.5% in the 3rd quarter. Quarry LP now owns 344,902 shares of the financial services provider’s stock valued at $1,700,000 after purchasing an additional 263,269 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of The Gabelli Multimedia Trust in the third quarter valued at approximately $537,000. PFG Investments LLC acquired a new position in shares of The Gabelli Multimedia Trust during the third quarter worth approximately $53,000. Atomi Financial Group Inc. boosted its position in shares of 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 worth $268,000 after buying an additional 6,864 shares during the period. Finally, NBC Securities Inc. bought a new position in The Gabelli Multimedia Trust in the 3rd quarter worth approximately $29,000. Institutional investors and hedge funds own 10.63% of the company’s stock.

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.