The Gabelli Multimedia Trust (NYSE:GGT) Stock Price Crosses Above 200 Day Moving Average of $5.98

The Gabelli Multimedia Trust Inc. (NYSE:GGT – Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.98 and traded as high as $6.31. The Gabelli Multimedia Trust shares last traded at $6.28, with a volume of 26,367 shares.

The Gabelli Multimedia Trust Stock Up 0.6 %

The firm has a fifty day simple moving average of $6.47 and a two-hundred day simple moving average of $5.99.

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The Gabelli Multimedia Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Thursday, June 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 14.01%. The ex-dividend date was Wednesday, June 14th.

Insiders Place Their Bets

In other The Gabelli Multimedia Trust news, insider Mario J. Gabelli sold 6,604 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $6.27, for a total value of $41,407.08. Following the completion of the sale, the insider now owns 1,141,396 shares of the company’s stock, valued at $7,156,552.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On The Gabelli Multimedia Trust

A number of institutional investors and hedge funds have recently modified their holdings of GGT. Atria Wealth Solutions Inc. acquired a new stake in shares of The Gabelli Multimedia Trust during the first quarter worth about $222,000. First Manhattan Co. purchased a new position in The Gabelli Multimedia Trust during the first quarter valued at approximately $44,000. Royal Bank of Canada raised its position in 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 valued at $103,000 after acquiring an additional 1,966 shares in the last quarter. Bank of America Corp DE raised its position in The Gabelli Multimedia Trust by 23.0% during 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 acquiring an additional 1,933 shares in the last quarter. Finally, UBS Group AG raised its position in The Gabelli Multimedia Trust by 12.5% during the second quarter. UBS Group AG now owns 13,142 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 1,458 shares in the last quarter. Institutional investors and hedge funds own 9.51% of the company’s stock.

The Gabelli Multimedia Trust Company Profile

(Get Free Report)

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.

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