The Gabelli Multimedia Trust (NYSE:GGT) Stock Crosses Above 200-Day Moving Average of $5.45

Shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $5.45 and traded as high as $5.61. The Gabelli Multimedia Trust shares last traded at $5.54, with a volume of 24,177 shares changing hands.

The Gabelli Multimedia Trust Price Performance

The business’s fifty day moving average is $5.59 and its two-hundred day moving average is $5.45.

The Gabelli Multimedia Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 14th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 15.88%.

Hedge Funds Weigh In On The Gabelli Multimedia Trust

A number of hedge funds have recently added to or reduced their stakes in GGT. Raymond James Financial Services Advisors Inc. purchased a new position in The Gabelli Multimedia Trust in the 3rd quarter worth approximately $62,000. Atria Wealth Solutions Inc. purchased a new stake in The Gabelli Multimedia Trust during the 3rd quarter valued at $187,000. Atomi Financial Group Inc. raised its stake 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 valued at $506,000 after buying an additional 42,429 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in The Gabelli Multimedia Trust during the 3rd quarter valued at $82,000. Finally, Telos Capital Management Inc. purchased a new stake in The Gabelli Multimedia Trust during the 4th quarter valued at $149,000. 10.63% of the stock is currently owned by hedge funds and other 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.