The Gabelli Multimedia Trust (NYSE:GGT) Share Price Crosses Above 200 Day Moving Average of $5.53

The Gabelli Multimedia Trust Inc. (NYSE:GGTGet Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $5.53 and traded as high as $5.58. The Gabelli Multimedia Trust shares last traded at $5.48, with a volume of 64,764 shares changing hands.

The Gabelli Multimedia Trust Trading Down 0.7 %

The business has a fifty day moving average of $5.58 and a 200-day moving average of $5.53.

The Gabelli Multimedia Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 14th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 16.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GGT. Atria Wealth Solutions Inc. purchased a new position in The Gabelli Multimedia Trust during the 1st quarter valued at about $222,000. First Manhattan Co. purchased a new position in shares of The Gabelli Multimedia Trust during the 1st quarter worth approximately $44,000. Royal Bank of Canada grew its holdings in shares of The Gabelli Multimedia Trust by 21.5% during the 1st quarter. Royal Bank of Canada now owns 11,093 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 1,966 shares during the period. Bank of America Corp DE grew its holdings in shares of The Gabelli Multimedia Trust by 23.0% during the 1st quarter. Bank of America Corp DE now owns 10,328 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 1,933 shares during the period. Finally, UBS Group AG grew its holdings in shares of The Gabelli Multimedia Trust by 12.5% during the 2nd quarter. UBS Group AG now owns 13,142 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 1,458 shares during the period. Hedge funds and other institutional investors own 10.63% of the company’s stock.

About The Gabelli Multimedia Trust

(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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