The Gabelli Multimedia Trust (NYSE:GGT) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

The Gabelli Multimedia Trust Inc. (NYSE:GGT)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.80 and traded as high as $4.80. The Gabelli Multimedia Trust shares last traded at $4.78, with a volume of 58,829 shares traded.

The Gabelli Multimedia Trust Stock Performance

The stock has a 50 day simple moving average of $4.80 and a two-hundred day simple moving average of $4.80.

The Gabelli Multimedia Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.88 annualized dividend and a dividend yield of 18.41%.

Institutional Investors Weigh In On The Gabelli Multimedia Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL increased its stake in The Gabelli Multimedia Trust by 4.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,249,218 shares of the financial services provider’s stock worth $5,572,000 after acquiring an additional 51,591 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of The Gabelli Multimedia Trust by 2.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 594,648 shares of the financial services provider’s stock worth $2,652,000 after purchasing an additional 16,656 shares during the period. Absolute Investment Advisers LLC acquired a new stake in shares of The Gabelli Multimedia Trust during the 4th quarter worth about $2,222,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in The Gabelli Multimedia Trust in the 4th quarter valued at about $1,929,000. Finally, Quarry LP raised its holdings in The Gabelli Multimedia Trust by 322.5% in the 3rd quarter. Quarry LP now owns 344,902 shares of the financial services provider’s stock valued at $1,700,000 after buying an additional 263,269 shares during the period. 10.63% of the stock is currently owned by institutional investors and hedge funds.

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.