The Gabelli Multimedia Trust (NYSE:GGT) Stock Crosses Above 200-Day Moving Average – Time to Sell?

The Gabelli Multimedia Trust Inc. (NYSE:GGT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.80 and traded as high as $4.80. The Gabelli Multimedia Trust shares last traded at $4.78, with a volume of 58,829 shares.

The Gabelli Multimedia Trust Trading Up 0.1 %

The firm’s 50 day moving average price is $4.80 and its two-hundred day moving average price is $4.80.

The Gabelli Multimedia Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 18.62%. The ex-dividend date of this dividend was Monday, March 17th.

Institutional Investors Weigh In On The Gabelli Multimedia Trust

Several hedge funds have recently modified their holdings of GGT. Wealth Enhancement Advisory Services LLC lifted its stake in shares of 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 acquiring an additional 7,742 shares during the period. Citadel Advisors LLC purchased a new position in The Gabelli Multimedia Trust during the fourth quarter worth about $77,000. Jane Street Group LLC acquired a new stake in The Gabelli Multimedia Trust in the fourth quarter valued at about $49,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in The Gabelli Multimedia Trust in the 4th quarter valued at approximately $1,929,000. Finally, Gamco Investors INC. ET AL increased its position in The Gabelli Multimedia Trust by 4.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,249,218 shares of the financial services provider’s stock worth $5,572,000 after purchasing an additional 51,591 shares during the period. 10.63% of the stock is owned by institutional investors and hedge funds.

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.