Gabelli Multimedia Trust Inc. (NYSE:GGT - Get Free Report) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 78,827 shares, a growth of 57.5% from the December 31st total of 50,051 shares. Based on an average daily volume of 240,018 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.3% of the company's stock are sold short. Currently, 0.3% of the company's stock are sold short. Based on an average daily volume of 240,018 shares, the days-to-cover ratio is presently 0.3 days.

Gabelli Multimedia Trust Trading Down 0.1%

GGT traded down $0.01 during trading on Monday, hitting $4.20. The company had a trading volume of 101,161 shares, compared to its average volume of 221,760. Gabelli Multimedia Trust has a 1-year low of $3.75 and a 1-year high of $4.94. The business has a 50-day moving average of $4.17 and a 200-day moving average of $4.17.

Gabelli Multimedia Trust Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a yield of 22.9%. This is a boost from Gabelli Multimedia Trust's previous monthly dividend of $0.07.

Hedge Funds Weigh In On Gabelli Multimedia Trust

Hedge funds have recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC grew its position in shares of Gabelli Multimedia Trust by 8.5% during the 4th quarter. Kestra Private Wealth Services LLC now owns 36,748 shares of the financial services provider's stock valued at $154,000 after buying an additional 2,882 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in 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 purchasing an additional 3,282 shares during the period. Raymond James Financial Inc. bought a new position in Gabelli Multimedia Trust during the 2nd quarter worth $27,000. Geneos Wealth Management Inc. acquired a new stake in Gabelli Multimedia Trust in the third quarter worth $30,000. Finally, Cetera Investment Advisers increased its position in Gabelli Multimedia Trust by 73.8% in the second quarter. Cetera Investment Advisers now owns 21,703 shares of the financial services provider's stock worth $90,000 after buying an additional 9,214 shares during the period. Institutional investors and hedge funds own 10.63% of the company's stock.

About Gabelli Multimedia Trust

(Get Free Report)

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.

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