Gabelli Multimedia Trust (NYSE:GGT) Stock Passes Above 200 Day Moving Average of $8.18

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Gabelli Multimedia Trust Inc (NYSE:GGT) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.18 and traded as high as $8.37. Gabelli Multimedia Trust shares last traded at $8.36, with a volume of 84,328 shares trading hands.

The business’s 50-day moving average is $8.14 and its 200-day moving average is $8.18.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 10.53%. The ex-dividend date is Monday, March 16th.

In related news, Director Christopher J. Marangi bought 2,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $25.00 per share, with a total value of $50,000.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at approximately $50,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Bruce N. Alpert purchased 3,000 shares of Gabelli Multimedia Trust stock in a transaction dated Friday, December 20th. The shares were bought at an average price of $25.00 per share, with a total value of $75,000.00. The disclosure for this purchase can be found here. 7.40% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Jolley Asset Management LLC purchased a new stake in Gabelli Multimedia Trust during the 4th quarter valued at about $882,000. Cornerstone Wealth Management LLC bought a new position in shares of Gabelli Multimedia Trust in the fourth quarter worth approximately $80,000. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Gabelli Multimedia Trust by 43.5% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 31,441 shares of the financial services provider’s stock worth $252,000 after buying an additional 9,538 shares in the last quarter. CWM LLC purchased a new stake in shares of Gabelli Multimedia Trust during the fourth quarter valued at approximately $75,000. Finally, Mid Atlantic Financial Management Inc. ADV grew its holdings in shares of Gabelli Multimedia Trust by 18.7% during the fourth quarter. Mid Atlantic Financial Management Inc. ADV now owns 47,700 shares of the financial services provider’s stock valued at $383,000 after buying an additional 7,500 shares during the last quarter. Institutional investors own 5.04% of the company’s stock.

About Gabelli Multimedia Trust (NYSE:GGT)

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.

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