NBC Securities Inc. Acquires New Position in The Gabelli Multimedia Trust Inc. (NYSE:GGT)

NBC Securities Inc. bought a new position in The Gabelli Multimedia Trust Inc. (NYSE:GGT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,000 shares of the financial services provider’s stock, valued at approximately $29,000.

A number of other institutional investors also recently modified their holdings of the stock. Atomi Financial Group Inc. raised its stake in shares of The Gabelli Multimedia Trust by 7.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 53,947 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 3,854 shares in the last quarter. Quarry LP bought a new position in The Gabelli Multimedia Trust during the second quarter valued at approximately $438,000. Beacon Capital Management LLC acquired a new stake in The Gabelli Multimedia Trust in the first quarter valued at approximately $32,000. Finally, Commonwealth Equity Services LLC grew its position in The Gabelli Multimedia Trust by 11.3% in the first quarter. Commonwealth Equity Services LLC now owns 505,595 shares of the financial services provider’s stock worth $2,862,000 after acquiring an additional 51,151 shares in the last quarter. Institutional investors and hedge funds own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Stock Performance

The Gabelli Multimedia Trust stock opened at $4.70 on Tuesday. The Gabelli Multimedia Trust Inc. has a 1-year low of $4.32 and a 1-year high of $6.25. The firm’s fifty day simple moving average is $4.93 and its 200-day simple moving average is $5.24.

The Gabelli Multimedia Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.88 annualized dividend and a yield of 18.72%.

About The 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.