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

The Gabelli Multimedia Trust Inc. (NYSE:GGT)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.84 and traded as high as $4.90. The Gabelli Multimedia Trust shares last traded at $4.84, with a volume of 59,630 shares.

The Gabelli Multimedia Trust Price Performance

The firm’s 50 day moving average price is $4.78 and its 200-day moving average price is $4.84.

The Gabelli Multimedia Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 18.18%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in The Gabelli Multimedia Trust by 94.2% in 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 period. Wolverine Asset Management LLC bought a new position in The Gabelli Multimedia Trust in the third quarter worth $537,000. Absolute Investment Advisers LLC bought a new position in The Gabelli Multimedia Trust in the fourth quarter worth $2,222,000. Quarry LP lifted its position in The Gabelli Multimedia Trust by 322.5% in the third 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 period. Finally, NBC Securities Inc. bought a new position in shares of The Gabelli Multimedia Trust during the third quarter valued at $29,000. 10.63% of the stock is owned by institutional investors.

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.