Gabelli Multimedia Trust Inc. (NYSE:GGT - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.11 and traded as high as $4.15. Gabelli Multimedia Trust shares last traded at $4.1050, with a volume of 117,394 shares.
Gabelli Multimedia Trust Price Performance
The company's 50-day moving average price is $4.08 and its two-hundred day moving average price is $4.11.
Gabelli Multimedia Trust Increases Dividend
The business also recently announced a monthly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th will be given a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 23.4%. The ex-dividend date of this dividend is Monday, June 15th. This is an increase from Gabelli Multimedia Trust's previous monthly dividend of $0.07.
Insider Buying and Selling at Gabelli Multimedia Trust
In other Gabelli Multimedia Trust news, insider Mario J. Gabelli acquired 25,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was acquired at an average price of $4.06 per share, with a total value of $101,500.00. Following the transaction, the insider directly owned 1,158,396 shares in the company, valued at approximately $4,703,087.76. This represents a 2.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.00% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Gabelli Multimedia Trust
A number of institutional investors have recently modified their holdings of GGT. Arax Advisory Partners grew its position in shares of Gabelli Multimedia Trust by 90.0% during the 4th quarter. Arax Advisory Partners now owns 6,152 shares of the financial services provider's stock valued at $26,000 after buying an additional 2,914 shares during the last quarter. Raymond James Financial Inc. bought a new position in Gabelli Multimedia Trust in the 2nd quarter worth about $27,000. Geneos Wealth Management Inc. bought a new position in Gabelli Multimedia Trust in the 3rd quarter worth about $30,000. Ameriprise Financial Inc. bought a new position in Gabelli Multimedia Trust in the 3rd quarter worth about $49,000. Finally, CoreCap Advisors LLC grew its position in Gabelli Multimedia Trust by 848.5% in the 3rd quarter. CoreCap Advisors LLC now owns 15,650 shares of the financial services provider's stock worth $67,000 after purchasing an additional 14,000 shares during the last quarter. Institutional investors 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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