Gabelli Multimedia Trust Inc. (NYSE:GGT) Plans Monthly Dividend of $0.07

Gabelli Multimedia Trust Inc. (NYSE:GGT) announced a monthly dividend on Wednesday, February 11th. Shareholders of record on Thursday, May 14th will be given a dividend of 0.07 per share by the financial services provider on Thursday, May 21st. This represents a c) annualized dividend and a yield of 19.9%. The ex-dividend date is Thursday, May 14th.

Gabelli Multimedia Trust Trading Down 1.7%

Gabelli Multimedia Trust stock opened at $4.23 on Thursday. Gabelli Multimedia Trust has a 52 week low of $3.75 and a 52 week high of $4.94. The stock has a fifty day moving average price of $4.19 and a 200 day moving average price of $4.17.

Hedge Funds Weigh In On Gabelli Multimedia Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Gabelli Multimedia Trust during the second quarter worth $27,000. Geneos Wealth Management Inc. purchased a new stake in Gabelli Multimedia Trust during the 3rd quarter worth $30,000. Allworth Financial LP acquired a new position in Gabelli Multimedia Trust in the 2nd quarter worth $49,000. Ameriprise Financial Inc. acquired a new stake in shares of Gabelli Multimedia Trust during the third quarter valued at about $49,000. Finally, CoreCap Advisors LLC increased its position in shares of Gabelli Multimedia Trust by 848.5% during the third quarter. CoreCap Advisors LLC now owns 15,650 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 14,000 shares during the last quarter. 10.63% of the stock is owned by institutional investors and hedge funds.

About Gabelli Multimedia Trust

Gabelli Multimedia Trust Inc (NYSE: GGT) is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in the common stocks of companies engaged in the multimedia and communications sectors. The trust’s portfolio is concentrated in industries such as cable and satellite television, wireless and wireline telecommunications, radio and broadcasting, print and digital publishing, and internet services. Through selective security selection, Gabelli Multimedia Trust aims to capture growth opportunities driven by evolving content delivery platforms and technological innovation.

Since its initial public offering in December 1987, the trust has been managed by Gabelli Funds, LLC, an affiliate of GAMCO Investors, Inc, under the direction of veteran investors led by Mario J.