Gabelli Multimedia Trust Inc. (GGT) to Issue Monthly Dividend of $0.08 on March 24th

Gabelli Multimedia Trust Inc. (NYSE:GGT) announced a monthly dividend on Wednesday, November 12th. Investors of record on Tuesday, March 17th will be given a dividend of 0.08 per share by the financial services provider on Tuesday, March 24th. This represents a c) annualized dividend and a yield of 23.8%. The ex-dividend date of this dividend is Tuesday, March 17th. This is a 14.3% increase from Gabelli Multimedia Trust’s previous monthly dividend of $0.07.

Gabelli Multimedia Trust Trading Down 3.5%

Shares of GGT stock opened at $4.04 on Friday. Gabelli Multimedia Trust has a fifty-two week low of $3.75 and a fifty-two week high of $5.13. The stock has a 50 day simple moving average of $4.16 and a two-hundred day simple moving average of $4.18.

Insider Buying and Selling at Gabelli Multimedia Trust

In related news, insider Mario J. Gabelli acquired 31,000 shares of the stock in a transaction dated Monday, October 27th. The stock was bought at an average price of $4.04 per share, for a total transaction of $125,240.00. Following the purchase, the insider directly owned 31,000 shares of the company’s stock, valued at $125,240. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gabelli Multimedia Trust

A number of large investors have recently bought and sold shares of the stock. Avantax Advisory Services Inc. bought a new stake in Gabelli Multimedia Trust in the first quarter valued at $93,000. Wolverine Asset Management LLC acquired a new position in shares of Gabelli Multimedia Trust during the second quarter valued at about $363,000. Kestra Private Wealth Services LLC raised its holdings in shares of Gabelli Multimedia Trust by 16.7% during the first quarter. Kestra Private Wealth Services LLC now owns 38,450 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 5,512 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Gabelli Multimedia Trust by 30.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,030 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 3,282 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its stake in shares of Gabelli Multimedia Trust by 18.8% in the 1st quarter. Belpointe Asset Management LLC now owns 18,992 shares of the financial services provider’s stock valued at $88,000 after buying an additional 3,000 shares during the period. 10.63% of the stock is currently owned by institutional investors and hedge funds.

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.