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

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

Institutional Investors Weigh In On The Gabelli Multimedia Trust

A number of institutional investors have recently made changes to their positions in the business. NBC Securities Inc. purchased a new stake in The Gabelli Multimedia Trust during the 3rd quarter valued at $29,000. PFG Investments LLC purchased a new stake in The Gabelli Multimedia Trust during the 3rd quarter valued at $53,000. Wealth Enhancement Advisory Services LLC boosted its position in 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 buying an additional 21,501 shares during the period. Atomi Financial Group Inc. boosted its position in 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 buying an additional 3,854 shares during the period. Finally, Quarry LP purchased a new stake in The Gabelli Multimedia Trust during the 2nd quarter valued at $438,000. Hedge funds and other institutional investors own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Stock Performance

Shares of The Gabelli Multimedia Trust stock remained flat at $4.71 during trading on Friday. 48,546 shares of the stock were exchanged, compared to its average volume of 105,471. The Gabelli Multimedia Trust has a 12 month low of $4.45 and a 12 month high of $6.12. The firm has a 50-day simple moving average of $4.78 and a 200-day simple moving average of $4.87.

The Gabelli Multimedia Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 18.68%.

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.