Gabelli Multimedia Trust (NYSE:GGT) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Gabelli Multimedia Trust Inc. (NYSE:GGT – Get Free Report)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.14 and traded as high as $4.35. Gabelli Multimedia Trust shares last traded at $4.3250, with a volume of 336,803 shares traded.

Gabelli Multimedia Trust Price Performance

The stock has a 50 day moving average price of $4.15 and a 200-day moving average price of $4.14.

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Gabelli Multimedia Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 22.2%. This is an increase from Gabelli Multimedia Trust’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Wednesday, September 16th.

Hedge Funds Weigh In On Gabelli Multimedia Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GGT. Cetera Investment Advisers boosted its stake in Gabelli Multimedia Trust by 73.8% during the second quarter. Cetera Investment Advisers now owns 21,703 shares of the financial services provider’s stock worth $90,000 after buying an additional 9,214 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Gabelli Multimedia Trust during the second quarter worth $27,000. Balyasny Asset Management L.P. acquired a new position in Gabelli Multimedia Trust during the second quarter worth $537,000. Fisher Asset Management LLC acquired a new position in Gabelli Multimedia Trust during the third quarter worth $100,000. Finally, Ameriprise Financial Inc. acquired a new position in Gabelli Multimedia Trust during the third quarter worth $49,000. Institutional investors and hedge funds own 10.63% of the company’s stock.

Gabelli Multimedia Trust Company Profile

(Get Free Report)

Gabelli Multimedia Trust Inc (NYSE: GGT) is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in the common stocks of companies engaged in the multimedia and communications sectors. The trust’s portfolio is concentrated in industries such as cable and satellite television, wireless and wireline telecommunications, radio and broadcasting, print and digital publishing, and internet services. Through selective security selection, Gabelli Multimedia Trust aims to capture growth opportunities driven by evolving content delivery platforms and technological innovation.

Since its initial public offering in December 1987, the trust has been managed by Gabelli Funds, LLC, an affiliate of GAMCO Investors, Inc, under the direction of veteran investors led by Mario J.

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