The Gabelli Multimedia Trust (NYSE:GGT) Shares Pass Above 200 Day Moving Average – Here’s Why

The Gabelli Multimedia Trust Inc. (NYSE:GGT)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.82 and traded as high as $4.82. The Gabelli Multimedia Trust shares last traded at $4.79, with a volume of 193,002 shares changing hands.

The Gabelli Multimedia Trust Trading Up 0.2 %

The business’s 50-day simple moving average is $4.79 and its two-hundred day simple moving average is $4.81.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 18.80%. The ex-dividend date is Monday, March 17th.

Institutional Trading of The Gabelli Multimedia Trust

Institutional investors have recently bought and sold shares of the company. Quarry LP lifted its stake in shares of 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 valued at $1,700,000 after purchasing an additional 263,269 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in 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 purchasing an additional 21,501 shares in the last quarter. Absolute Investment Advisers LLC acquired a new position in The Gabelli Multimedia Trust in the fourth quarter valued at approximately $2,222,000. Wolverine Asset Management LLC boosted its holdings in shares of The Gabelli Multimedia Trust by 24.2% during the 4th quarter. Wolverine Asset Management LLC now owns 135,365 shares of the financial services provider’s stock worth $604,000 after buying an additional 26,388 shares in the last quarter. Finally, One Capital Management LLC bought a new position in shares of The Gabelli Multimedia Trust during the 4th quarter worth approximately $50,000. Institutional investors own 10.63% of the company’s stock.

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.