Gabelli Multimedia Trust Inc. (NYSE:GGT) Announces $0.07 Dividend

Key Points

• Gabelli Multimedia Trust Inc. has declared a dividend of $0.07 per share, which will be paid to shareholders on August 22nd. This represents an astounding yield of 1,986.0%.
• The stock opened at $4.22, with a 52-week range of $3.75 to $5.15, indicating some fluctuations in its market price.
• Institutional investors own approximately 10.63% of Gabelli Multimedia Trust's stock, with notable stake increases by firms like Wealth Enhancement Advisory Services and Belpointe Asset Management recently.

Gabelli Multimedia Trust Inc. (NYSE:GGT - Get Free Report) announced a dividend on Tuesday, August 12th, investing.com reports. Shareholders of record on Monday, August 18th will be given a dividend of 0.07 per share by the financial services provider on Friday, August 22nd. This represents a yield of 1,986.0%. The ex-dividend date is Friday, August 15th.

Gabelli Multimedia Trust Trading Up 0.1%

Shares of NYSE GGT opened at $4.22 on Tuesday. Gabelli Multimedia Trust has a fifty-two week low of $3.75 and a fifty-two week high of $5.15. The stock has a fifty day moving average of $4.16 and a 200-day moving average of $4.42.

Institutional Investors Weigh In On Gabelli Multimedia Trust

Several large investors have recently added to or reduced their stakes in GGT. Allworth Financial LP bought a new stake in Gabelli Multimedia Trust during the second quarter worth about $49,000. Jane Street Group LLC purchased a new position in Gabelli Multimedia Trust during the 4th quarter valued at about $49,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of 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 worth $60,000 after acquiring an additional 3,282 shares during the period. Citadel Advisors LLC purchased a new position in shares of Gabelli Multimedia Trust during the 4th quarter worth approximately $77,000. Finally, Belpointe Asset Management LLC grew its stake in shares of Gabelli Multimedia Trust by 18.8% in the 1st quarter. Belpointe Asset Management LLC now owns 18,992 shares of the financial services provider's stock worth $88,000 after buying an additional 3,000 shares during the last quarter. Institutional investors own 10.63% of the company's stock.

About 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.

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