The Gabelli Multimedia Trust Inc. (NYSE:GGT) Short Interest Up 89.0% in April

The Gabelli Multimedia Trust Inc. (NYSE:GGT) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 195,000 shares, a growth of 89.0% from the March 31st total of 103,200 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily trading volume, of 106,100 shares, the days-to-cover ratio is presently 1.8 days.

The Gabelli Multimedia Trust Stock Performance

Shares of NYSE:GGT opened at $4.47 on Thursday. The stock’s fifty day simple moving average is $4.61 and its two-hundred day simple moving average is $4.72. The Gabelli Multimedia Trust has a 1-year low of $4.00 and a 1-year high of $5.98.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 13th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 21.48%. The ex-dividend date of this dividend is Friday, June 13th.

Institutional Investors Weigh In On The Gabelli Multimedia Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of The Gabelli Multimedia Trust by 94.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 44,320 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 21,501 shares in the last quarter. Absolute Investment Advisers LLC purchased a new position in The Gabelli Multimedia Trust in the fourth quarter worth $2,222,000. Wolverine Asset Management LLC grew its stake in The Gabelli Multimedia Trust by 24.2% in the 4th quarter. Wolverine Asset Management LLC now owns 135,365 shares of the financial services provider’s stock valued at $604,000 after purchasing an additional 26,388 shares during the period. One Capital Management LLC purchased a new stake in shares of The Gabelli Multimedia Trust during the 4th quarter valued at $50,000. Finally, Commonwealth Equity Services LLC raised its stake in shares of The Gabelli Multimedia Trust by 2.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 594,648 shares of the financial services provider’s stock worth $2,652,000 after purchasing an additional 16,656 shares during the period. Hedge funds and other institutional investors own 10.63% of the company’s stock.

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.