Mario J. Gabelli Buys 40,000 Shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT) Stock

The Gabelli Multimedia Trust Inc. (NYSE:GGT) insider Mario J. Gabelli acquired 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was bought at an average price of $4.34 per share, for a total transaction of $173,600.00. Following the completion of the transaction, the insider now owns 1,020,502 shares of the company’s stock, valued at $4,428,978.68. The trade was a 4.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

The Gabelli Multimedia Trust Stock Down 1.7%

Shares of The Gabelli Multimedia Trust stock traded down $0.07 on Monday, hitting $4.12. The stock had a trading volume of 402,810 shares, compared to its average volume of 107,354. The Gabelli Multimedia Trust Inc. has a one year low of $4.00 and a one year high of $5.98. The stock’s 50-day simple moving average is $4.50 and its two-hundred day simple moving average is $4.69.

The Gabelli Multimedia Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a yield of 20.39%. The ex-dividend date of this dividend is Tuesday, September 16th.

Hedge Funds Weigh In On The Gabelli Multimedia Trust

Several large investors have recently modified their holdings of the stock. Kestra Private Wealth Services LLC raised its position in shares of The Gabelli Multimedia Trust by 16.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 38,450 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 5,512 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in The Gabelli Multimedia Trust by 33.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,561 shares of the financial services provider’s stock worth $136,000 after buying an additional 7,742 shares in the last quarter. Jane Street Group LLC bought a new stake in The Gabelli Multimedia Trust in the 4th quarter worth about $49,000. One Capital Management LLC bought a new stake in The Gabelli Multimedia Trust in the 4th quarter worth about $50,000. Finally, Commonwealth Equity Services LLC increased its holdings in The Gabelli Multimedia Trust by 2.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 594,648 shares of the financial services provider’s stock worth $2,652,000 after buying an additional 16,656 shares in the last quarter. Hedge funds and other institutional investors 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.