The Gabelli Multimedia Trust Inc. (NYSE:GGT – Get Rating) declared a quarterly dividend on Tuesday, May 17, The Wall Street Journal reports. Investors of record on Wednesday, June 15 will receive a dividend of 0.22 per share from the financial services provider on Thursday, June 23. This represents an annualized dividend of $0.88 and a yield of 11.59%. The ex-dividend date is Tuesday, June 14.
The Gabelli Multimedia Trust has decreased its dividend payout by an average of 0.8% per year over the past three years.
Shares of GGT opened at $7.59 on Wednesday. The company’s 50-day moving average is $8.38 and its two-hundred-day moving average is $8.62. The Gabelli Multimedia Trust has a 12-month low of $6.60 and a 12-month high of $11.59.
A number of institutional investors and hedge funds have recently changed their holdings in GGT. Morgan Stanley increased its position in The Gabelli Multimedia Trust by 38.5% during the second quarter. Morgan Stanley now owns 309,712 shares of the financial services provider worth $3,466,000 after purchasing an additional 86,077 shares during the period. Susquehanna International Group LLP acquired a new equity stake in The Gabelli Multimedia Trust in the fourth quarter valued at approximately $315,000. NewEdge Advisors LLC acquired a new stake in shares of The Gabelli Multimedia Trust in the fourth quarter worth approximately $292,000. Atria Wealth Solutions Inc. acquired a new equity stake in The Gabelli Multimedia Trust in the first quarter valued at approximately $222,000. Finally, Virtu Financial LLC acquired a new stake in shares of The Gabelli Multimedia Trust in the fourth quarter worth approximately $99,000. Institutional investors hold 13.18% of the company’s shares.
About the Gabelli Multimedia Trust (Get an evaluation)
The Gabelli Multimedia Trust Inc is a closed-end mutual fund launched by GAMCO Investors, Inc. It is managed by Gabelli Funds LLC. The fund invests in stock markets around the world. It invests in stocks, convertible securities, preferred stocks, options and warrants of companies operating in the global telecommunications, media, publishing and entertainment sectors.
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