Wolverine Asset Management LLC Increases Stake in The Gabelli Multimedia Trust Inc. (NYSE:GGT)

Wolverine Asset Management LLC boosted its stake in The Gabelli Multimedia Trust Inc. (NYSE:GGT) by 24.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,365 shares of the financial services provider’s stock after purchasing an additional 26,388 shares during the quarter. Wolverine Asset Management LLC owned about 0.48% of The Gabelli Multimedia Trust worth $604,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of GGT. PFG Investments LLC acquired a new position in shares of The Gabelli Multimedia Trust in the 3rd quarter valued at $53,000. Quarry LP boosted its holdings 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 valued at $1,700,000 after acquiring an additional 263,269 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in The Gabelli Multimedia Trust by 94.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 44,320 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 21,501 shares during the period. Finally, Absolute Investment Advisers LLC acquired a new stake in The Gabelli Multimedia Trust during the fourth quarter worth about $2,222,000. Institutional investors and hedge funds own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Stock Up 0.1 %

NYSE GGT opened at $4.79 on Monday. The Gabelli Multimedia Trust Inc. has a 1-year low of $4.45 and a 1-year high of $6.12. The business’s 50-day simple moving average is $4.73 and its 200-day simple moving average is $4.83.

The Gabelli Multimedia Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.88 dividend on an annualized basis and a yield of 18.39%.

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.