Gabelli Multimedia Trust Inc. (NYSE:GGT) Shareholders to Receive $0.07 Monthly Dividend

Gabelli Multimedia Trust Inc. (NYSE:GGT) declared a monthly dividend on Wednesday, November 11th. Investors of record on Thursday, February 11th will be paid a dividend of $0.07 per share by the financial services provider on Friday, February 19th. This represents a $0.84 dividend on an annualized basis and a yield of 22.4%. The ex-dividend date of this dividend is Thursday, February 11th.

Gabelli Multimedia Trust Stock Performance

Shares of GGT stock opened at $3.75 on Thursday. The business has a fifty day moving average of $3.81 and a 200 day moving average of $4.06. Gabelli Multimedia Trust has a 1 year low of $3.11 and a 1 year high of $4.37.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. StoneX Group Inc. raised its stake in shares of Gabelli Multimedia Trust by 111.7% in the third quarter. StoneX Group Inc. now owns 44,058 shares of the financial services provider’s stock worth $179,000 after purchasing an additional 23,251 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Gabelli Multimedia Trust by 3.0% during the third quarter. Kestra Advisory Services LLC now owns 657,624 shares of the financial services provider’s stock worth $2,617,000 after purchasing an additional 19,053 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Gabelli Multimedia Trust in the third quarter valued at approximately $47,000. Baird Financial Group Inc. boosted its position in Gabelli Multimedia Trust by 2.9% in the second quarter. Baird Financial Group Inc. now owns 110,826 shares of the financial services provider’s stock valued at $467,000 after buying an additional 3,121 shares during the last quarter. Finally, Advisory Solutions Group LLC purchased a new stake in Gabelli Multimedia Trust in the second quarter valued at approximately $631,000. 10.63% of the stock is owned by institutional investors and hedge funds.

About Gabelli Multimedia Trust

Gabelli Multimedia Trust (NYSE:GGT) is a diversified closed-end management investment company. The fund seeks long-term growth of capital and current income by investing primarily in companies involved in the multimedia, communications and entertainment industries. Its portfolio may include businesses engaged in broadcasting, cable and satellite services, telecommunications, publishing, entertainment, digital media and related technologies. The trust invests in publicly traded securities and may consider opportunities in both U.S. and international markets.