Gabelli Multimedia Trust Inc. (NYSE:GGT) to Issue $0.07 Monthly Dividend

Gabelli Multimedia Trust Inc. (NYSE:GGT) declared a monthly dividend on Wednesday, November 12th. Investors of record on Thursday, February 12th will be given a dividend of 0.07 per share by the financial services provider on Friday, February 20th. This represents a c) annualized dividend and a yield of 20.7%. The ex-dividend date is Thursday, February 12th.

Gabelli Multimedia Trust Stock Performance

NYSE:GGT traded down $0.13 on Thursday, hitting $4.06. 163,556 shares of the stock were exchanged, compared to its average volume of 155,694. Gabelli Multimedia Trust has a 52 week low of $3.75 and a 52 week high of $5.13. The company’s 50-day moving average price is $4.16 and its 200 day moving average price is $4.18.

Insider Buying and Selling

In other news, insider Mario J. Gabelli bought 31,000 shares of the business’s stock in a transaction on Monday, October 27th. The shares were bought at an average cost of $4.04 per share, for a total transaction of $125,240.00. Following the completion of the acquisition, the insider owned 31,000 shares in the company, valued at approximately $125,240. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.59% of the company’s stock.

Institutional Investors Weigh In On Gabelli Multimedia Trust

Several institutional investors have recently added to or reduced their stakes in GGT. Balyasny Asset Management L.P. acquired a new stake in Gabelli Multimedia Trust in the 2nd quarter valued at approximately $537,000. Wolverine Asset Management LLC bought a new position in Gabelli Multimedia Trust in the second quarter valued at $363,000. Fisher Asset Management LLC acquired a new position in shares of Gabelli Multimedia Trust during the 3rd quarter worth about $100,000. Avantax Advisory Services Inc. acquired a new stake in shares of Gabelli Multimedia Trust in the first quarter valued at about $93,000. Finally, CoreCap Advisors LLC boosted its position in Gabelli Multimedia Trust by 848.5% during the third quarter. CoreCap Advisors LLC now owns 15,650 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 14,000 shares during the last quarter. 10.63% of the stock is owned by institutional investors.

About 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.