Absolute Investment Advisers LLC acquired a new stake in shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 498,229 shares of the financial services provider's stock, valued at approximately $2,222,000. Absolute Investment Advisers LLC owned approximately 1.76% of The Gabelli Multimedia Trust at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Atomi Financial Group Inc. increased its holdings in shares of The Gabelli Multimedia Trust by 7.7% in the third quarter. Atomi Financial Group Inc. now owns 53,947 shares of the financial services provider's stock worth $266,000 after purchasing an additional 3,854 shares during the last quarter. NBC Securities Inc. purchased a new position in The Gabelli Multimedia Trust during the 3rd quarter valued at approximately $29,000. PFG Investments LLC bought a new stake in The Gabelli Multimedia Trust in the 3rd quarter worth approximately $53,000. Wolverine Asset Management LLC purchased a new stake in shares of The Gabelli Multimedia Trust during the 3rd quarter worth approximately $537,000. Finally, Quarry LP boosted its position in shares of The Gabelli Multimedia Trust by 322.5% during the 3rd quarter. Quarry LP now owns 344,902 shares of the financial services provider's stock valued at $1,700,000 after acquiring an additional 263,269 shares during the last quarter. Institutional investors own 10.63% of the company's stock.
The Gabelli Multimedia Trust Trading Up 0.2 %
GGT traded up $0.01 during trading hours on Thursday, hitting $4.91. The company's stock had a trading volume of 73,877 shares, compared to its average volume of 62,453. The business's 50-day moving average price is $4.78 and its 200-day moving average price is $4.85. The Gabelli Multimedia Trust Inc. has a 12 month low of $4.45 and a 12 month high of $6.12.
The Gabelli Multimedia Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a $0.22 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 17.92%.
About The Gabelli Multimedia Trust
(
Free Report)
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.
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