The Gabelli Multimedia Trust Inc. (NYSE:GGT) Short Interest Update

The Gabelli Multimedia Trust Inc. (NYSE:GGT) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 190,400 shares, a growth of 8.7% from the March 15th total of 175,100 shares. Based on an average daily volume of 57,200 shares, the days-to-cover ratio is currently 3.3 days.

Institutional Trading of The Gabelli Multimedia Trust

Large investors have recently added to or reduced their stakes in the stock. Atomi Financial Group Inc. lifted its stake in shares of The Gabelli Multimedia Trust by 97.6% in the 3rd quarter. Atomi Financial Group Inc. now owns 85,886 shares of the financial services provider’s stock valued at $506,000 after purchasing an additional 42,429 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of The Gabelli Multimedia Trust in the 3rd quarter valued at $62,000. Atria Wealth Solutions Inc. acquired a new position in shares of The Gabelli Multimedia Trust in the 3rd quarter valued at $187,000. Belpointe Asset Management LLC acquired a new position in shares of The Gabelli Multimedia Trust in the 3rd quarter valued at $82,000. Finally, Bank of America Corp DE lifted its stake in shares of The Gabelli Multimedia Trust by 23.0% in the 1st quarter. Bank of America Corp DE now owns 10,328 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 1,933 shares during the last quarter. 10.63% of the stock is currently owned by hedge funds and other institutional investors.

The Gabelli Multimedia Trust Stock Down 1.9 %

Shares of GGT traded down $0.10 during trading hours on Monday, hitting $5.28. 86,561 shares of the stock were exchanged, compared to its average volume of 59,133. The Gabelli Multimedia Trust has a 12-month low of $4.32 and a 12-month high of $7.00. The stock’s 50-day moving average price is $5.60 and its two-hundred day moving average price is $5.50.

The Gabelli Multimedia Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 14th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 16.67%. The ex-dividend date of this dividend was Wednesday, March 13th.

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.