The Gabelli Multimedia Trust (NYSE:GGT) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

The Gabelli Multimedia Trust Inc. (NYSE:GGT)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.80 and traded as high as $4.80. The Gabelli Multimedia Trust shares last traded at $4.78, with a volume of 58,829 shares.

The Gabelli Multimedia Trust Price Performance

The company’s fifty day moving average is $4.80 and its two-hundred day moving average is $4.80.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were paid a $0.22 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 18.41%.

Hedge Funds Weigh In On The Gabelli Multimedia Trust

Several hedge funds have recently bought and sold shares of GGT. Gamco Investors INC. ET AL boosted its holdings in The Gabelli Multimedia Trust by 4.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,249,218 shares of the financial services provider’s stock valued at $5,572,000 after acquiring an additional 51,591 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of The Gabelli Multimedia Trust by 2.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 594,648 shares of the financial services provider’s stock worth $2,652,000 after purchasing an additional 16,656 shares in the last quarter. Absolute Investment Advisers LLC purchased a new position in shares of The Gabelli Multimedia Trust in the fourth quarter valued at approximately $2,222,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of The Gabelli Multimedia Trust in the fourth quarter valued at approximately $1,929,000. Finally, Quarry LP increased its stake in The Gabelli Multimedia Trust by 322.5% during 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. Institutional investors and hedge funds 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.