Peapack Gladstone Financial Corp Sells 42,946 Shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT)

Peapack Gladstone Financial Corp lessened its holdings in The Gabelli Multimedia Trust Inc. (NYSE:GGT) by 57.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,656 shares of the financial services provider’s stock after selling 42,946 shares during the period. Peapack Gladstone Financial Corp owned approximately 0.11% of The Gabelli Multimedia Trust worth $156,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wolverine Asset Management LLC bought a new stake in shares of The Gabelli Multimedia Trust in the 3rd quarter worth about $537,000. Quarry LP increased its stake in The Gabelli Multimedia Trust by 322.5% during the third quarter. Quarry LP now owns 344,902 shares of the financial services provider’s stock worth $1,700,000 after acquiring an additional 263,269 shares during the last quarter. Atomi Financial Group Inc. raised its position in The Gabelli Multimedia Trust by 7.7% during the third quarter. Atomi Financial Group Inc. now owns 53,947 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 3,854 shares during the period. NBC Securities Inc. bought a new stake in shares of The Gabelli Multimedia Trust in the 3rd quarter valued at approximately $29,000. Finally, PFG Investments LLC purchased a new position in shares of The Gabelli Multimedia Trust in the 3rd quarter worth approximately $53,000. Hedge funds and other institutional investors own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Price Performance

NYSE GGT opened at $4.65 on Tuesday. The business’s 50 day moving average price is $4.81 and its 200-day moving average price is $5.03. The Gabelli Multimedia Trust Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $6.25.

The Gabelli Multimedia Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 18.92%. The ex-dividend date is Friday, December 13th.

The Gabelli Multimedia Trust Company 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.