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

Gabelli Multimedia Trust Inc. (NYSE:GGT) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 114,488 shares, a growth of 59.5% from the November 30th total of 71,801 shares. Based on an average trading volume of 223,605 shares, the short-interest ratio is presently 0.5 days. Currently, 0.4% of the company’s stock are sold short. Currently, 0.4% of the company’s stock are sold short. Based on an average trading volume of 223,605 shares, the short-interest ratio is presently 0.5 days.

Insider Buying and Selling at Gabelli Multimedia Trust

In other Gabelli Multimedia Trust news, insider Mario J. Gabelli purchased 31,000 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average price of $4.04 per share, with a total value of $125,240.00. Following the transaction, the insider owned 31,000 shares in the company, valued at $125,240. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Gabelli Multimedia Trust in the 2nd quarter worth about $27,000. Geneos Wealth Management Inc. purchased a new position in shares of Gabelli Multimedia Trust in the third quarter worth about $30,000. Ameriprise Financial Inc. bought a new stake in shares of Gabelli Multimedia Trust in the third quarter valued at approximately $49,000. Allworth Financial LP purchased a new stake in shares of Gabelli Multimedia Trust during the 2nd quarter valued at approximately $49,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Gabelli Multimedia Trust by 30.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,030 shares of the financial services provider’s stock valued at $60,000 after buying an additional 3,282 shares in the last quarter. Hedge funds and other institutional investors own 10.63% of the company’s stock.

Gabelli Multimedia Trust Stock Down 1.5%

GGT traded down $0.06 during midday trading on Friday, reaching $4.07. The company had a trading volume of 160,832 shares, compared to its average volume of 194,806. Gabelli Multimedia Trust has a 12-month low of $3.75 and a 12-month high of $4.95. The business has a 50-day moving average price of $4.08 and a two-hundred day moving average price of $4.16.

Gabelli Multimedia Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 23.6%. This is a positive change from Gabelli Multimedia Trust’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, March 17th.

About Gabelli Multimedia Trust

Gabelli Multimedia Trust Inc (NYSE: GGT) is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in the common stocks of companies engaged in the multimedia and communications sectors. The trust’s portfolio is concentrated in industries such as cable and satellite television, wireless and wireline telecommunications, radio and broadcasting, print and digital publishing, and internet services. Through selective security selection, Gabelli Multimedia Trust aims to capture growth opportunities driven by evolving content delivery platforms and technological innovation.

Since its initial public offering in December 1987, the trust has been managed by Gabelli Funds, LLC, an affiliate of GAMCO Investors, Inc, under the direction of veteran investors led by Mario J.