Gabelli Multimedia Trust (NYSE:GGT) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Gabelli Multimedia Trust Inc. (NYSE:GGT)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.16 and traded as high as $4.24. Gabelli Multimedia Trust shares last traded at $4.1950, with a volume of 516,289 shares traded.

Gabelli Multimedia Trust Stock Up 0.6%

The firm has a 50 day moving average price of $4.22 and a 200-day moving average price of $4.16.

Gabelli Multimedia Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be paid a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 22.9%. The ex-dividend date is Wednesday, September 16th. This is a boost from Gabelli Multimedia Trust’s previous monthly dividend of $0.07.

Institutional Trading of Gabelli Multimedia Trust

A number of large investors have recently made changes to their positions in GGT. Arax Advisory Partners lifted its stake in Gabelli Multimedia Trust by 90.0% in the fourth quarter. Arax Advisory Partners now owns 6,152 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 2,914 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Gabelli Multimedia Trust during the 2nd quarter worth $27,000. Ameriprise Financial Inc. acquired a new position in shares of Gabelli Multimedia Trust during the third quarter worth $49,000. Geneos Wealth Management Inc. grew its stake in shares of Gabelli Multimedia Trust by 141.4% during the first quarter. Geneos Wealth Management Inc. now owns 16,900 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 9,900 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in 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 buying an additional 4,616 shares during the last quarter. 10.63% of the stock is currently owned by hedge funds and other institutional investors.

Gabelli Multimedia Trust Company Profile

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.