Gabelli Multimedia Trust Provides Update on Asset Coverage and Leverage

Rhea-AI Summary

The Gabelli Multimedia Trust Inc. (NYSE: GGT) reported a robust asset coverage of 228% as of November 30, 2022, with total assets around $219 million. The Fund has approximately $96 million in preferred shares outstanding and a cash position of $41 million. Management is vigilant about monitoring the asset coverage for its leverage position, asserting the portfolio's flexibility to ensure compliance with regulatory leverage ratio requirements.

Positive

• Asset coverage stands at a strong 228%.
• Total assets are approximately $219 million.
• Cash position is around $41 million.

Negative

• None.

RYE, N.Y.--(BUSINESS WIRE)-- The Board of Directors of The Gabelli Multimedia Trust Inc. (NYSE: GGT) (the “Fund”) announces that as of November 30, 2022, the Fund had asset coverage of 228%, with total assets of approximately $219 million, approximately $96 million of total preferred shares outstanding, and a cash position of approximately $41 million. The Fund continues to monitor the asset coverage for its leverage position, and believes it has sufficient flexibility within its portfolio to take action, if necessary, to maintain its leverage ratio limits as required by applicable regulatory requirements.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund, visit www.gabelli.com or call:

About The Gabelli Multimedia Trust

The Gabelli Multimedia Trust Inc. is a non-diversified, closed-end management investment company with $219 million in total net assets whose primary investment objective is long-term growth of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

NYSE: GGT
CUSIP – 36239Q109

View source version on businesswire.com: https://www.businesswire.com/news/home/20221201005796/en/

Carter Austin

(914) 921-5475

Source: The Gabelli Multimedia Trust Inc.

FAQ

What is the asset coverage of Gabelli Multimedia Trust as of November 30, 2022?

As of November 30, 2022, Gabelli Multimedia Trust (NYSE: GGT) reported an asset coverage of 228%.

What are the total assets of Gabelli Multimedia Trust?

Gabelli Multimedia Trust has total assets of approximately $219 million.

How much preferred shares are outstanding for Gabelli Multimedia Trust?

Gabelli Multimedia Trust has approximately $96 million in preferred shares outstanding.

What cash position does Gabelli Multimedia Trust hold?

The cash position of Gabelli Multimedia Trust is approximately $41 million.

Who manages Gabelli Multimedia Trust?

Gabelli Multimedia Trust is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc.