Gabelli Multi-Media Trust Inc. (NYSE:GGT) Director Christopher J. Marangi purchased 2,000 shares of the stock in a transaction dated Tuesday, September 26th. The stock was bought at an average cost of $25.00 per share, with a total value of $50,000.00. Following the transaction, the director now owns 2,000 shares in the company, valued at $50,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Gabelli Multi-Media Trust Inc. (NYSE GGT) opened at 9.68 on Friday. The stock has a 50 day moving average price of $9.31 and a 200 day moving average price of $8.76. Gabelli Multi-Media Trust Inc. has a 52-week low of $7.15 and a 52-week high of $9.86.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 15th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 9.09%. The ex-dividend date of this dividend was Thursday, September 14th.

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Hedge funds have recently modified their holdings of the stock. GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in Gabelli Multi-Media Trust by 2.4% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 95,814 shares of the financial services provider’s stock valued at $857,000 after purchasing an additional 2,233 shares in the last quarter. Wedbush Securities Inc. boosted its position in Gabelli Multi-Media Trust by 6.4% during the second quarter. Wedbush Securities Inc. now owns 116,828 shares of the financial services provider’s stock valued at $1,044,000 after purchasing an additional 7,010 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in Gabelli Multi-Media Trust by 2.1% during the second quarter. Gamco Investors INC. ET AL now owns 678,148 shares of the financial services provider’s stock valued at $6,063,000 after purchasing an additional 14,030 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Gabelli Multi-Media Trust by 31.4% during the second quarter. Janney Montgomery Scott LLC now owns 31,633 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 7,567 shares in the last quarter. Finally, M Holdings Securities Inc. bought a new stake in Gabelli Multi-Media Trust during the second quarter valued at about $130,000. 5.29% of the stock is currently owned by institutional investors.

Gabelli Multi-Media Trust Company Profile

The Gabelli Multimedia Trust Inc (the Fund) is a United States-based non-diversified closed-end management investment company. The Fund’s investment objective is long term growth of capital. The Fund will invest at least 80% of its assets, under normal market conditions, in common stock and other securities, including convertible securities, preferred stock, options, and warrants of companies in the telecommunications, media, publishing and entertainment industries.

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