Gabelli Multimedia Trust Inc. (NYSE:GGT) Increases Dividend to $0.08 Per Share

Gabelli Multimedia Trust Inc. (NYSE:GGT) declared a monthly dividend on Wednesday, November 11th. Shareholders of record on Wednesday, March 17th will be paid a dividend of $0.08 per share by the financial services provider on Wednesday, March 24th. This represents a $0.96 annualized dividend and a yield of 25.6%. The ex-dividend date is Wednesday, March 17th. This is a 14.3% increase from Gabelli Multimedia Trust’s previous monthly dividend of $0.07.

Gabelli Multimedia Trust Trading Up 0.8%

Shares of GGT opened at $3.75 on Thursday. The stock has a fifty day moving average price of $3.81 and a two-hundred day moving average price of $4.06. Gabelli Multimedia Trust has a 52-week low of $3.11 and a 52-week high of $4.37.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Gamco Investors INC. ET AL lifted its position in Gabelli Multimedia Trust by 2.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 1,275,447 shares of the financial services provider’s stock worth $5,013,000 after buying an additional 25,000 shares in the last quarter. Kestra Advisory Services LLC grew its holdings in Gabelli Multimedia Trust by 3.0% during the 3rd quarter. Kestra Advisory Services LLC now owns 657,624 shares of the financial services provider’s stock worth $2,617,000 after acquiring an additional 19,053 shares during the last quarter. Advisory Solutions Group LLC bought a new stake in Gabelli Multimedia Trust during the 2nd quarter worth about $631,000. Landscape Capital Management L.L.C. bought a new stake in Gabelli Multimedia Trust during the 2nd quarter worth about $512,000. Finally, Baird Financial Group Inc. increased its position in Gabelli Multimedia Trust by 2.9% in the 2nd quarter. Baird Financial Group Inc. now owns 110,826 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 3,121 shares in the last quarter. 10.63% of the stock is owned by institutional investors.

Gabelli Multimedia Trust Company Profile

Gabelli Multimedia Trust (NYSE:GGT) is a diversified closed-end management investment company. The fund seeks long-term growth of capital and current income by investing primarily in companies involved in the multimedia, communications and entertainment industries. Its portfolio may include businesses engaged in broadcasting, cable and satellite services, telecommunications, publishing, entertainment, digital media and related technologies. The trust invests in publicly traded securities and may consider opportunities in both U.S. and international markets.