The Gabelli Multimedia Trust Inc. (NYSE:GGT – Get Rating) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 128,400 shares, a decline of 8.9% from the March 15th total of 140,900 shares. Based on an average daily trading volume, of 63,300 shares, the days-to-cover ratio is currently 2.0 days.
The Gabelli Multimedia Trust Trading Down 0.5 %
Shares of NYSE GGT traded down $0.03 during trading on Friday, reaching $5.59. The stock had a trading volume of 14,563 shares, compared to its average volume of 44,121. The Gabelli Multimedia Trust has a fifty-two week low of $5.10 and a fifty-two week high of $8.24. The business's 50-day moving average price is $5.73 and its 200-day moving average price is $5.87.
Get The Gabelli Multimedia Trust alerts:The Gabelli Multimedia Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 17th were paid a $0.22 dividend. The ex-dividend date was Thursday, March 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 15.74%.
Institutional Investors Weigh In On The Gabelli Multimedia Trust
A number of institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in shares of The Gabelli Multimedia Trust by 2.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 454,815 shares of the financial services provider's stock valued at $2,433,000 after buying an additional 10,425 shares in the last quarter. LPL Financial LLC increased its holdings in The Gabelli Multimedia Trust by 8.2% during the 2nd quarter. LPL Financial LLC now owns 264,479 shares of the financial services provider's stock worth $1,912,000 after purchasing an additional 20,040 shares during the period. Level Four Advisory Services LLC increased its holdings in The Gabelli Multimedia Trust by 26.1% during the 3rd quarter. Level Four Advisory Services LLC now owns 35,943 shares of the financial services provider's stock worth $225,000 after purchasing an additional 7,450 shares during the period. Sheaff Brock Investment Advisors LLC increased its holdings in The Gabelli Multimedia Trust by 8.5% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 27,162 shares of the financial services provider's stock worth $170,000 after purchasing an additional 2,139 shares during the period. Finally, Atria Wealth Solutions Inc. purchased a new stake in The Gabelli Multimedia Trust during the 1st quarter worth about $222,000. 5.58% of the stock is owned by institutional investors and hedge funds.
The Gabelli Multimedia Trust Company Profile
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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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