The Gabelli Multimedia Trust Inc. (NYSE:GGT - Get Free Report) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 195,000 shares, an increase of 89.0% from the March 31st total of 103,200 shares. Based on an average daily trading volume, of 106,100 shares, the short-interest ratio is currently 1.8 days. Currently, 0.8% of the shares of the company are short sold.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in GGT. Wealth Enhancement Advisory Services LLC lifted its stake 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 buying an additional 21,501 shares in the last quarter. Absolute Investment Advisers LLC bought a new stake in shares of The Gabelli Multimedia Trust in the fourth quarter worth about $2,222,000. Commonwealth Equity Services LLC raised its holdings in shares of The Gabelli Multimedia Trust by 2.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 594,648 shares of the financial services provider's stock worth $2,652,000 after acquiring an additional 16,656 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of The Gabelli Multimedia Trust in the fourth quarter valued at $1,929,000. Finally, One Capital Management LLC bought a new stake in The Gabelli Multimedia Trust in the fourth quarter worth $50,000. 10.63% of the stock is currently owned by institutional investors.
The Gabelli Multimedia Trust Stock Up 0.1 %
GGT traded up $0.01 during trading on Friday, hitting $4.46. The company's stock had a trading volume of 76,097 shares, compared to its average volume of 98,514. The Gabelli Multimedia Trust has a one year low of $4.00 and a one year high of $5.98. The business's 50 day simple moving average is $4.60 and its 200-day simple moving average is $4.71.
The Gabelli Multimedia Trust Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 13th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 21.55%.
About The Gabelli Multimedia Trust
(
Get Free Report)
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.
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