The Gabelli Multimedia Trust (NYSE:GGT) Shares Cross Above 200 Day Moving Average of $5.46

The Gabelli Multimedia Trust Inc. (NYSE:GGT) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.46 and traded as high as $5.47. The Gabelli Multimedia Trust shares last traded at $5.46, with a volume of 31,098 shares changing hands.

The Gabelli Multimedia Trust Trading Up 0.9 %

The firm’s fifty day moving average price is $5.59 and its two-hundred day moving average price is $5.46.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 14th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 16.12%. The ex-dividend date was Wednesday, March 13th.

Hedge Funds Weigh In On The Gabelli Multimedia Trust

A number of institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC grew its holdings in shares of The Gabelli Multimedia Trust by 11.3% during the first quarter. Commonwealth Equity Services LLC now owns 505,595 shares of the financial services provider’s stock valued at $2,862,000 after buying an additional 51,151 shares during the last quarter. Telos Capital Management Inc. bought a new position in The Gabelli Multimedia Trust in the 4th quarter valued at about $149,000. Belpointe Asset Management LLC acquired a new position in The Gabelli Multimedia Trust during the 3rd quarter valued at about $82,000. Atomi Financial Group Inc. increased its holdings in The Gabelli Multimedia Trust by 97.6% during the 3rd quarter. Atomi Financial Group Inc. now owns 85,886 shares of the financial services provider’s stock worth $506,000 after purchasing an additional 42,429 shares in the last quarter. Finally, Atria Wealth Solutions Inc. bought a new stake in The Gabelli Multimedia Trust during the 3rd quarter worth approximately $187,000. 10.63% of the stock is owned by institutional investors and hedge funds.

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.