The Gabelli Multimedia Trust (NYSE:GGT) Shares Cross Above 200 Day Moving Average – Here’s Why

The Gabelli Multimedia Trust Inc. (NYSE:GGT)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.82 and traded as high as $4.82. The Gabelli Multimedia Trust shares last traded at $4.79, with a volume of 193,002 shares trading hands.

The Gabelli Multimedia Trust Stock Down 2.3 %

The firm’s 50 day simple moving average is $4.79 and its 200 day simple moving average is $4.82.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be paid a $0.22 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.88 annualized dividend and a dividend yield of 18.39%.

Institutional Investors Weigh In On The Gabelli Multimedia Trust

Several large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of The Gabelli Multimedia Trust during the fourth quarter valued at approximately $49,000. One Capital Management LLC acquired a new position in shares of The Gabelli Multimedia Trust during the fourth quarter valued at approximately $50,000. Citadel Advisors LLC acquired a new position in shares of The Gabelli Multimedia Trust during the fourth quarter valued at approximately $77,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of The Gabelli Multimedia Trust by 33.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 30,561 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 7,742 shares during the period. Finally, Wolverine Asset Management LLC increased its stake in shares of The Gabelli Multimedia Trust by 24.2% during the fourth quarter. Wolverine Asset Management LLC now owns 135,365 shares of the financial services provider’s stock valued at $604,000 after acquiring an additional 26,388 shares during the period. Institutional investors and hedge funds own 10.63% of the company’s stock.

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.