The Gabelli Multimedia Trust (NYSE:GGT) Share Price Crosses Above 200 Day Moving Average of $5.52

Shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.52 and traded as high as $5.89. The Gabelli Multimedia Trust shares last traded at $5.82, with a volume of 59,707 shares trading hands.

The Gabelli Multimedia Trust Price Performance

The business has a 50 day moving average price of $5.57 and a 200 day moving average price of $5.52.

The Gabelli Multimedia Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Thursday, June 13th will be paid a $0.22 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 15.07%.

Institutional Trading of The Gabelli Multimedia Trust

A number of institutional investors and hedge funds have recently modified their holdings of GGT. Beacon Capital Management LLC bought a new stake in The Gabelli Multimedia Trust during the 1st quarter worth approximately $32,000. Raymond James Financial Services Advisors Inc. bought a new stake in The Gabelli Multimedia Trust during the 3rd quarter worth approximately $62,000. Belpointe Asset Management LLC bought a new stake in The Gabelli Multimedia Trust during the 3rd quarter worth approximately $82,000. Telos Capital Management Inc. bought a new stake in The Gabelli Multimedia Trust during the 4th quarter worth approximately $149,000. Finally, Atria Wealth Solutions Inc. bought a new stake in The Gabelli Multimedia Trust during the 3rd quarter worth approximately $187,000. 10.63% of the stock is owned by institutional investors.

About The 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.