20,000 Shares in Gabelli Multimedia Trust Inc. (NYSE:GGT) Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. acquired a new position in shares of Gabelli Multimedia Trust Inc. (NYSE:GGT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,000 shares of the financial services provider’s stock, valued at approximately $93,000. Avantax Advisory Services Inc. owned approximately 0.06% of Gabelli Multimedia Trust as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Gamco Investors INC. ET AL raised its holdings in shares of Gabelli Multimedia Trust by 4.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,249,218 shares of the financial services provider’s stock valued at $5,572,000 after acquiring an additional 51,591 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Gabelli Multimedia Trust in the 4th quarter valued at about $1,929,000. Jane Street Group LLC purchased a new stake in shares of Gabelli Multimedia Trust in the 4th quarter valued at about $49,000. Citadel Advisors LLC purchased a new stake in shares of Gabelli Multimedia Trust in the 4th quarter valued at about $77,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Gabelli Multimedia Trust by 33.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,561 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 7,742 shares in the last quarter. Hedge funds and other institutional investors own 10.63% of the company’s stock.

Gabelli Multimedia Trust Stock Up 0.6%

NYSE:GGT opened at $4.23 on Monday. Gabelli Multimedia Trust Inc. has a twelve month low of $3.75 and a twelve month high of $5.15. The business’s 50-day moving average price is $4.15 and its two-hundred day moving average price is $4.43.

Gabelli Multimedia Trust Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, July 24th. Investors of record on Friday, July 18th were issued a dividend of $0.07 per share. This represents a dividend yield of 1,949.0%. The ex-dividend date of this dividend was Thursday, July 17th.

Insider Buying and Selling at Gabelli Multimedia Trust

In other news, insider Mario J. Gabelli acquired 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were bought at an average cost of $4.34 per share, with a total value of $173,600.00. Following the acquisition, the insider owned 1,020,502 shares in the company, valued at approximately $4,428,978.68. This represents a 4.08% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.00% of the company’s stock.

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.