The Gabelli Multimedia Trust Inc. (NYSE:GGT) Short Interest Up 8.7% in March

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

The Gabelli Multimedia Trust Stock Up 0.4 %

The Gabelli Multimedia Trust stock traded up $0.02 during midday trading on Wednesday, reaching $5.30. 19,618 shares of the company traded hands, compared to its average volume of 59,756. The Gabelli Multimedia Trust has a 12 month low of $4.32 and a 12 month high of $7.00. The business has a 50 day moving average of $5.59 and a two-hundred day moving average of $5.49.

The Gabelli Multimedia Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 14th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 16.60%. The ex-dividend date of this dividend was Wednesday, March 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Manhattan Co. bought a new stake in The Gabelli Multimedia Trust during the first quarter valued at approximately $44,000. Chilton Capital Management LLC purchased a new stake in The Gabelli Multimedia Trust in the first quarter worth about $34,000. Bank of America Corp DE raised its stake in shares of The Gabelli Multimedia Trust by 23.0% in the first quarter. Bank of America Corp DE now owns 10,328 shares of the financial services provider’s stock worth $95,000 after buying an additional 1,933 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in shares of The Gabelli Multimedia Trust during the 3rd quarter valued at approximately $62,000. Finally, Royal Bank of Canada raised its stake in The Gabelli Multimedia Trust by 21.5% during the 1st quarter. Royal Bank of Canada now owns 11,093 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 1,966 shares during the period. 10.63% of the stock is owned by hedge funds and other institutional investors.

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.