The Gabelli Multimedia Trust (NYSE:GGT) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT) 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 changing hands.

The Gabelli Multimedia Trust Stock Performance

The company has a 50 day moving average price of $4.80 and a 200 day moving average price of $4.80.

The Gabelli Multimedia Trust Dividend Announcement

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

Hedge Funds Weigh In On The Gabelli Multimedia Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new stake in The Gabelli Multimedia Trust during the 4th quarter worth about $49,000. One Capital Management LLC acquired a new stake in shares of The Gabelli Multimedia Trust during the 4th quarter worth about $50,000. Citadel Advisors LLC purchased a new stake in shares of The Gabelli Multimedia Trust during the fourth quarter worth about $77,000. Wealth Enhancement Advisory Services LLC raised its position in shares of The Gabelli Multimedia Trust by 33.9% in 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 buying an additional 7,742 shares during the last quarter. Finally, Wolverine Asset Management LLC lifted 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 buying 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.