The Gabelli Multimedia Trust Inc. (NYSE:GGT) Short Interest Up 37.1% in March

The Gabelli Multimedia Trust Inc. (NYSE:GGT) was the recipient of a large increase in short interest in 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. Based on an average daily volume of 97,200 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.6% of the company’s stock are short sold.

The Gabelli Multimedia Trust Stock Performance

The Gabelli Multimedia Trust stock opened at $4.63 on Wednesday. The stock’s 50 day moving average is $4.80 and its 200 day moving average is $4.79. The Gabelli Multimedia Trust has a twelve month low of $4.45 and a twelve month high of $5.98.

The Gabelli Multimedia Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were issued a dividend of $0.22 per share. The ex-dividend date was Monday, March 17th. This represents a $0.88 annualized dividend and a dividend yield of 19.03%.

Hedge Funds Weigh In On The Gabelli Multimedia Trust

Large investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL increased its stake 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 valued at $5,572,000 after purchasing an additional 51,591 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of The Gabelli Multimedia Trust by 2.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 594,648 shares of the financial services provider’s stock valued at $2,652,000 after buying an additional 16,656 shares during the last quarter. Absolute Investment Advisers LLC bought a new stake in shares of The Gabelli Multimedia Trust during the fourth quarter valued at approximately $2,222,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in The Gabelli Multimedia Trust in the 4th quarter valued at approximately $1,929,000. Finally, 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 acquiring an additional 263,269 shares in the last quarter. Hedge funds and other institutional investors own 10.63% of the company’s stock.

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.