Gabelli Multimedia Trust (NYSE:GGT) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Gabelli Multimedia Trust Inc. (NYSE:GGT)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.16 and traded as high as $4.24. Gabelli Multimedia Trust shares last traded at $4.1820, with a volume of 268,534 shares traded.

Gabelli Multimedia Trust Stock Down 0.4%

The company’s 50 day moving average price is $4.21 and its 200 day moving average price is $4.16.

Gabelli Multimedia Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be paid a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 23.0%. The ex-dividend date of this dividend is Wednesday, September 16th. This is an increase from Gabelli Multimedia Trust’s previous monthly dividend of $0.07.

Hedge Funds Weigh In On Gabelli Multimedia Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL grew its stake in shares of Gabelli Multimedia Trust by 2.0% in the first quarter. Gamco Investors INC. ET AL now owns 1,275,447 shares of the financial services provider’s stock worth $5,013,000 after acquiring an additional 25,000 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Gabelli Multimedia Trust by 27.5% in the first quarter. Cetera Investment Advisers now owns 21,390 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 4,616 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Gabelli Multimedia Trust by 141.4% in the first quarter. Geneos Wealth Management Inc. now owns 16,900 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 9,900 shares during the period. Kestra Advisory Services LLC boosted its holdings in Gabelli Multimedia Trust by 2.1% in the first quarter. Kestra Advisory Services LLC now owns 616,809 shares of the financial services provider’s stock valued at $2,424,000 after purchasing an additional 12,818 shares during the period. Finally, Decision Investments Inc. purchased a new position in Gabelli Multimedia Trust in the first quarter valued at $92,000. Hedge funds and other institutional investors own 10.63% of the company’s stock.

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.