5,646 Shares in The Gabelli Multimedia Trust Inc. (NYSE:GGT) Acquired by Beacon Capital Management LLC

Beacon Capital Management LLC bought a new position in shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,646 shares of the financial services provider’s stock, valued at approximately $32,000.

Separately, Commonwealth Equity Services LLC boosted its holdings in The Gabelli Multimedia Trust by 11.3% in the first quarter. Commonwealth Equity Services LLC now owns 505,595 shares of the financial services provider’s stock worth $2,862,000 after acquiring an additional 51,151 shares in the last quarter. Institutional investors and hedge funds own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Price Performance

Shares of GGT stock remained flat at $5.01 during trading hours on Friday. The stock had a trading volume of 39,284 shares, compared to its average volume of 78,292. The Gabelli Multimedia Trust Inc. has a 52 week low of $4.32 and a 52 week high of $6.65. The firm has a 50 day moving average of $5.38 and a two-hundred day moving average of $5.49.

The Gabelli Multimedia Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 13th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 17.56%.

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.