Gabelli Multimedia Trust Inc. (NYSE:GGT) Plans Monthly Dividend of $0.07

Gabelli Multimedia Trust Inc. (NYSE:GGT) declared a monthly dividend on Wednesday, August 12th. Investors of record on Friday, November 13th will be given a dividend of 0.07 per share by the financial services provider on Friday, November 20th. This represents a c) annualized dividend and a dividend yield of 19.8%. The ex-dividend date is Friday, November 13th.

Gabelli Multimedia Trust Stock Up 1.7%

Shares of NYSE:GGT opened at $4.25 on Thursday. The stock’s 50-day moving average price is $4.17 and its 200-day moving average price is $4.15. Gabelli Multimedia Trust has a 12-month low of $3.87 and a 12-month high of $4.39.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Private Wealth Services LLC increased its stake in shares of Gabelli Multimedia Trust by 8.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 36,748 shares of the financial services provider’s stock valued at $154,000 after buying an additional 2,882 shares during the period. Arax Advisory Partners increased its position in Gabelli Multimedia Trust by 90.0% during the 4th quarter. Arax Advisory Partners now owns 6,152 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 2,914 shares during the period. PMG Family Office LLC raised its holdings in Gabelli Multimedia Trust by 14.0% in the 1st quarter. PMG Family Office LLC now owns 26,610 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 3,262 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Gabelli Multimedia Trust by 27.5% during the 1st quarter. Cetera Investment Advisers now owns 21,390 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 4,616 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Gabelli Multimedia Trust in the second quarter worth about $27,000. Institutional investors own 10.63% of the company’s stock.

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.