The Gabelli Multimedia Trust (NYSE:GGT) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.84 and traded as high as $4.90. The Gabelli Multimedia Trust shares last traded at $4.84, with a volume of 59,630 shares trading hands.

The Gabelli Multimedia Trust Trading Up 0.6 %

The firm has a fifty day simple moving average of $4.78 and a 200 day simple moving average of $4.84.

The Gabelli Multimedia Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 18.18%.

Hedge Funds Weigh In On The Gabelli Multimedia Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GGT. NBC Securities Inc. acquired a new position in The Gabelli Multimedia Trust during the third quarter valued at approximately $29,000. PFG Investments LLC acquired a new stake in shares of The Gabelli Multimedia Trust in the third quarter worth $53,000. Wolverine Asset Management LLC acquired a new stake in shares of The Gabelli Multimedia Trust in the third quarter worth $537,000. Quarry LP grew its stake in shares of The Gabelli Multimedia Trust by 322.5% in the third quarter. Quarry LP now owns 344,902 shares of the financial services provider’s stock worth $1,700,000 after acquiring an additional 263,269 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of The Gabelli Multimedia Trust by 94.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 44,320 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 21,501 shares during the last quarter. Institutional investors and hedge funds own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Company Profile

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.