The Gabelli Multimedia Trust (NYSE:GGT) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

The Gabelli Multimedia Trust Inc. (NYSE:GGT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.05 and traded as high as $5.10. The Gabelli Multimedia Trust shares last traded at $5.05, with a volume of 208,541 shares changing hands.

The Gabelli Multimedia Trust Trading Down 0.8 %

The firm’s 50-day moving average price is $4.82 and its 200-day moving average price is $5.05.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 17.43%. The ex-dividend date is Friday, December 13th.

Institutional Trading of The Gabelli Multimedia Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP raised its position in The Gabelli Multimedia Trust by 322.5% in the 3rd quarter. Quarry LP now owns 344,902 shares of the financial services provider’s stock worth $1,700,000 after purchasing an additional 263,269 shares during the period. Wolverine Asset Management LLC purchased a new stake in The Gabelli Multimedia Trust in the 3rd quarter worth about $537,000. PFG Investments LLC purchased a new stake in The Gabelli Multimedia Trust in the 3rd quarter worth about $53,000. NBC Securities Inc. purchased a new stake in The Gabelli Multimedia Trust in the 3rd quarter worth about $29,000. Finally, Atomi Financial Group Inc. grew its stake in The Gabelli Multimedia Trust by 7.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 53,947 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 3,854 shares in the last quarter. 10.63% of the stock is owned by hedge funds and other institutional investors.

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.