Commonwealth Equity Services LLC Raises Stock Holdings in The Gabelli Multimedia Trust Inc. (NYSE:GGT)

Commonwealth Equity Services LLC boosted its holdings in shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 594,648 shares of the financial services provider’s stock after purchasing an additional 16,656 shares during the quarter. Commonwealth Equity Services LLC owned approximately 2.10% of The Gabelli Multimedia Trust worth $2,652,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GGT. Absolute Investment Advisers LLC bought a new stake in shares of The Gabelli Multimedia Trust in the fourth quarter worth $2,222,000. Quarry LP increased its position in shares of 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 worth $1,700,000 after purchasing an additional 263,269 shares during the last quarter. Wolverine Asset Management LLC raised its stake in shares of The Gabelli Multimedia Trust by 24.2% in the 4th quarter. Wolverine Asset Management LLC now owns 135,365 shares of the financial services provider’s stock valued at $604,000 after purchasing an additional 26,388 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of The Gabelli Multimedia Trust by 94.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 44,320 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 21,501 shares during the last quarter. Finally, One Capital Management LLC acquired a new position in The Gabelli Multimedia Trust in the fourth quarter worth about $50,000. 10.63% of the stock is owned by institutional investors and hedge funds.

The Gabelli Multimedia Trust Stock Performance

Shares of NYSE GGT opened at $4.73 on Thursday. The stock’s 50 day moving average price is $4.80 and its two-hundred day moving average price is $4.80. The Gabelli Multimedia Trust Inc. has a 52-week low of $4.45 and a 52-week high of $5.98.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 18.62%. The ex-dividend date of this dividend was Monday, March 17th.

The Gabelli Multimedia Trust Profile

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.