Sheaff Brock Investment Advisors LLC Reduces Stock Holdings in The Gabelli Multimedia Trust Inc. (NYSE:GGT)

Sheaff Brock Investment Advisors LLC reduced its stake in shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT) by 53.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,629 shares of the financial services provider’s stock after selling 15,382 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in The Gabelli Multimedia Trust were worth $67,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GGT. Beacon Capital Management LLC bought a new stake in shares of The Gabelli Multimedia Trust during the 1st quarter valued at about $32,000. Atomi Financial Group Inc. lifted its holdings in The Gabelli Multimedia Trust by 15.9% in the second quarter. Atomi Financial Group Inc. now owns 50,093 shares of the financial services provider’s stock worth $268,000 after buying an additional 6,864 shares during the period. Quarry LP bought a new stake in The Gabelli Multimedia Trust during the 2nd quarter valued at approximately $438,000. NBC Securities Inc. purchased a new position in shares of The Gabelli Multimedia Trust during the 3rd quarter worth approximately $29,000. Finally, PFG Investments LLC purchased a new position in shares of The Gabelli Multimedia Trust during the 3rd quarter worth approximately $53,000. 10.63% of the stock is currently owned by institutional investors.

The Gabelli Multimedia Trust Stock Performance

GGT opened at $4.76 on Friday. The Gabelli Multimedia Trust Inc. has a 52 week low of $4.56 and a 52 week high of $6.25. The business has a 50 day moving average of $4.82 and a 200-day moving average of $5.14.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 18.49%. The ex-dividend date is Friday, December 13th.

The Gabelli Multimedia Trust 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.