Commonwealth Equity Services LLC Sells 16,488 Shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT)

Commonwealth Equity Services LLC cut its holdings in shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 438,327 shares of the financial services provider’s stock after selling 16,488 shares during the period. Commonwealth Equity Services LLC owned approximately 1.58% of The Gabelli Multimedia Trust worth $2,472,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. UBS Group AG grew its position in shares of The Gabelli Multimedia Trust by 12.5% in the 2nd quarter. UBS Group AG now owns 13,142 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 1,458 shares during the period. Bank of America Corp DE boosted its holdings in shares of The Gabelli Multimedia Trust by 23.0% in the first quarter. Bank of America Corp DE now owns 10,328 shares of the financial services provider’s stock valued at $95,000 after buying an additional 1,933 shares during the period. Royal Bank of Canada raised its holdings in shares of The Gabelli Multimedia Trust by 21.5% during the first quarter. Royal Bank of Canada now owns 11,093 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 1,966 shares during the period. NewEdge Advisors LLC lifted its position in The Gabelli Multimedia Trust by 18.5% in the 2nd quarter. NewEdge Advisors LLC now owns 17,288 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 2,700 shares in the last quarter. Finally, First Manhattan Co. acquired a new position in The Gabelli Multimedia Trust in the 1st quarter worth $44,000. 10.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The Gabelli Multimedia Trust

In other news, insider Mario J. Gabelli sold 6,604 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $6.27, for a total transaction of $41,407.08. Following the completion of the transaction, the insider now directly owns 1,141,396 shares of the company’s stock, valued at approximately $7,156,552.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.40% of the company’s stock.

The Gabelli Multimedia Trust Trading Up 0.5 %

GGT stock opened at $6.43 on Thursday. The stock has a 50-day moving average price of $6.40 and a two-hundred day moving average price of $6.06. The Gabelli Multimedia Trust Inc. has a 1 year low of $5.10 and a 1 year high of $7.94.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 15th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 13.69%.

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.