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

The Gabelli Multimedia Trust Inc. (NYSE:GGT) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.05 and traded as high as $5.10. The Gabelli Multimedia Trust shares last traded at $5.05, with a volume of 208,541 shares traded.

The Gabelli Multimedia Trust Price Performance

The business’s 50 day moving average is $4.82 and its 200-day moving average is $5.05.

The Gabelli Multimedia Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 18.37%.

Institutional Investors Weigh In On The Gabelli Multimedia Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. bought a new position in The Gabelli Multimedia Trust in the 3rd quarter valued at approximately $29,000. PFG Investments LLC acquired a new position in shares of The Gabelli Multimedia Trust during the third quarter worth $53,000. Atomi Financial Group Inc. lifted its stake in shares of The Gabelli Multimedia Trust by 7.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 53,947 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 3,854 shares during the last quarter. Quarry LP acquired a new stake in shares of The Gabelli Multimedia Trust during the 2nd quarter valued at $438,000. Finally, Wolverine Asset Management LLC bought a new stake in The Gabelli Multimedia Trust during the 3rd quarter worth $537,000. 10.63% of the stock is owned by institutional investors.

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.