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

The Gabelli Multimedia Trust Inc. (NYSE:GGT) saw a large increase in short interest in July. As of July 15th, there was short interest totalling 1,350,000 shares, an increase of 5.5% from the June 30th total of 1,280,000 shares. Based on an average trading volume of 92,100 shares, the days-to-cover ratio is currently 14.7 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GGT. Commonwealth Equity Services LLC grew its stake in shares of The Gabelli Multimedia Trust by 11.3% in the first quarter. Commonwealth Equity Services LLC now owns 505,595 shares of the financial services provider’s stock worth $2,862,000 after acquiring an additional 51,151 shares during the last quarter. Telos Capital Management Inc. acquired a new stake in The Gabelli Multimedia Trust in the 4th quarter worth $149,000. Atomi Financial Group Inc. grew its position in The Gabelli Multimedia Trust by 15.9% in the 2nd quarter. Atomi Financial Group Inc. now owns 50,093 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 6,864 shares during the last quarter. Finally, Beacon Capital Management LLC bought a new position in shares of The Gabelli Multimedia Trust during the 1st quarter worth about $32,000. Institutional investors and hedge funds own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Trading Down 0.4 %

Shares of NYSE:GGT traded down $0.02 during trading on Thursday, reaching $5.01. The stock had a trading volume of 69,331 shares, compared to its average volume of 78,558. The stock has a fifty day simple moving average of $5.40 and a two-hundred day simple moving average of $5.50. The Gabelli Multimedia Trust has a 52 week low of $4.32 and a 52 week high of $6.65.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 13th were issued a $0.22 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.88 annualized dividend and a yield of 17.56%.

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.