Gabelli Multimedia Trust (NYSE:GGT) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Gabelli Multimedia Trust Inc. (NYSE:GGT) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.16 and traded as high as $4.19. Gabelli Multimedia Trust shares last traded at $4.13, with a volume of 142,827 shares changing hands.

Gabelli Multimedia Trust Trading Down 0.7%

The business’s 50-day simple moving average is $4.08 and its two-hundred day simple moving average is $4.16.

Gabelli Multimedia Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th will be issued a $0.08 dividend. This is a boost from Gabelli Multimedia Trust’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a c) annualized dividend and a yield of 23.2%.

Insider Transactions at Gabelli Multimedia Trust

In related news, insider Mario J. Gabelli bought 31,000 shares of the company’s stock in a transaction on Monday, October 27th. The shares were purchased at an average price of $4.04 per share, for a total transaction of $125,240.00. Following the completion of the transaction, the insider directly owned 31,000 shares in the company, valued at approximately $125,240. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Gabelli Multimedia Trust

Hedge funds have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC raised its stake in shares of Gabelli Multimedia Trust by 45.2% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 33,866 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 10,545 shares during the period. Ameriprise Financial Inc. purchased a new position in Gabelli Multimedia Trust during the 3rd quarter valued at about $49,000. Raymond James Financial Inc. grew its holdings in Gabelli Multimedia Trust by 122.4% during the 3rd quarter. Raymond James Financial Inc. now owns 14,348 shares of the financial services provider’s stock valued at $62,000 after buying an additional 7,897 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of Gabelli Multimedia Trust during the third quarter valued at about $100,000. Finally, CoreCap Advisors LLC lifted its holdings in shares of Gabelli Multimedia Trust by 848.5% in the third quarter. CoreCap Advisors LLC now owns 15,650 shares of the financial services provider’s stock worth $67,000 after buying an additional 14,000 shares in the last quarter. 10.63% of the stock is currently owned by hedge funds and other institutional investors.

About 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.