The Gabelli Multimedia Trust (NYSE:GGT) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.05 and traded as high as $5.10. The Gabelli Multimedia Trust shares last traded at $5.05, with a volume of 208,541 shares trading hands.

The Gabelli Multimedia Trust Stock Performance

The business’s 50-day moving average price is $4.82 and its 200-day moving average price is $5.05.

The Gabelli Multimedia Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 17.43%. The ex-dividend date is Friday, December 13th.

Institutional Investors Weigh In On The Gabelli Multimedia Trust

A number of hedge funds have recently modified their holdings of GGT. Quarry LP boosted its holdings in The Gabelli Multimedia Trust by 322.5% in the 3rd quarter. Quarry LP now owns 344,902 shares of the financial services provider’s stock worth $1,700,000 after buying an additional 263,269 shares during the period. Wolverine Asset Management LLC bought a new position in The Gabelli Multimedia Trust in the 3rd quarter worth $537,000. Atomi Financial Group Inc. boosted its holdings in The Gabelli Multimedia Trust by 7.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 53,947 shares of the financial services provider’s stock worth $266,000 after buying an additional 3,854 shares during the period. PFG Investments LLC bought a new position in The Gabelli Multimedia Trust in the 3rd quarter worth $53,000. Finally, NBC Securities Inc. bought a new position in The Gabelli Multimedia Trust in the 3rd quarter worth $29,000. Institutional investors own 10.63% of the company’s stock.

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.