The Gabelli Multimedia Trust Inc. (NYSE:GGT) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. cut its stake in shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT) by 6.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,851,248 shares of the financial services provider’s stock after selling 131,120 shares during the period. Sit Investment Associates Inc. owned approximately 6.55% of The Gabelli Multimedia Trust worth $8,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GGT. Commonwealth Equity Services LLC lifted its position in shares of The Gabelli Multimedia Trust by 2.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 594,648 shares of the financial services provider’s stock worth $2,652,000 after purchasing an additional 16,656 shares in the last quarter. One Capital Management LLC acquired a new position in The Gabelli Multimedia Trust in the 4th quarter worth $50,000. Wolverine Asset Management LLC boosted its position in The Gabelli Multimedia Trust by 24.2% in the 4th quarter. Wolverine Asset Management LLC now owns 135,365 shares of the financial services provider’s stock valued at $604,000 after buying an additional 26,388 shares during the last quarter. Absolute Investment Advisers LLC acquired a new stake in shares of The Gabelli Multimedia Trust during the fourth quarter valued at about $2,222,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of 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 worth $218,000 after acquiring an additional 21,501 shares during the last quarter. Hedge funds and other institutional investors own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Price Performance

Shares of GGT opened at $4.32 on Friday. The Gabelli Multimedia Trust Inc. has a one year low of $4.21 and a one year high of $5.98. The stock has a 50-day moving average price of $4.78 and a 200 day moving average price of $4.78.

The Gabelli Multimedia Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 20.37%. The ex-dividend date of this dividend was Monday, March 17th.

The Gabelli Multimedia Trust 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.