The Gabelli Multimedia Trust (NYSE:GGT) Stock Price Passes Above 200 Day Moving Average of $5.46

The Gabelli Multimedia Trust Inc. (NYSE:GGT) crossed 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 traded.

The Gabelli Multimedia Trust Trading Up 0.9 %

The business’s fifty day simple moving average is $5.59 and its 200 day simple moving average is $5.46.

The Gabelli Multimedia Trust Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GGT. Commonwealth Equity Services LLC lifted its stake 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 acquiring an additional 51,151 shares during the period. Atomi Financial Group Inc. raised 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 during the last quarter. Atria Wealth Solutions Inc. acquired a new position in The Gabelli Multimedia Trust during the 3rd quarter valued at about $187,000. Telos Capital Management Inc. bought a new position in shares of The Gabelli Multimedia Trust in the 4th quarter valued at about $149,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of The Gabelli Multimedia Trust during the 3rd quarter worth approximately $82,000. 10.63% of the stock is currently owned by institutional investors.

The Gabelli Multimedia Trust Company 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.