The Gabelli Multimedia Trust Inc. (NYSE:GGT) Sees Large Growth in Short Interest

The Gabelli Multimedia Trust Inc. (NYSE:GGT - Get Free Report) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 155,600 shares, an increase of 37.1% from the February 28th total of 113,500 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 97,200 shares, the short-interest ratio is currently 1.6 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. Gamco Investors INC. ET AL increased its holdings in The Gabelli Multimedia Trust by 4.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,249,218 shares of the financial services provider's stock worth $5,572,000 after acquiring an additional 51,591 shares during the period. Commonwealth Equity Services LLC raised its position in shares of The Gabelli Multimedia Trust by 2.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 594,648 shares of the financial services provider's stock worth $2,652,000 after buying an additional 16,656 shares in the last quarter. Absolute Investment Advisers LLC bought a new stake in The Gabelli Multimedia Trust during the fourth quarter valued at $2,222,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in The Gabelli Multimedia Trust during the fourth quarter valued at $1,929,000. Finally, Quarry LP grew its position in The Gabelli Multimedia Trust by 322.5% during the third quarter. Quarry LP now owns 344,902 shares of the financial services provider's stock worth $1,700,000 after buying an additional 263,269 shares in the last quarter. 10.63% of the stock is currently owned by institutional investors.

The Gabelli Multimedia Trust Trading Down 5.4 %

Shares of NYSE:GGT traded down $0.25 during trading on Friday, hitting $4.27. 218,191 shares of the company were exchanged, compared to its average volume of 91,629. The Gabelli Multimedia Trust has a 52-week low of $4.23 and a 52-week high of $5.98. The stock has a 50 day moving average of $4.79 and a 200 day moving average of $4.78.

The Gabelli Multimedia Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 20.63%. The ex-dividend date was Monday, March 17th.

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.