Sit Investment Associates Inc. lowered its stake in shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,851,248 shares of the financial services provider's stock after selling 131,120 shares during the period. Sit Investment Associates Inc. owned 6.55% of The Gabelli Multimedia Trust worth $8,257,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its holdings in The Gabelli Multimedia Trust by 2.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 594,648 shares of the financial services provider's stock worth $2,652,000 after purchasing an additional 16,656 shares in the last quarter. Absolute Investment Advisers LLC bought a new stake in shares of The Gabelli Multimedia Trust during the fourth quarter valued at about $2,222,000. Wolverine Asset Management LLC lifted its holdings in shares of The Gabelli Multimedia Trust by 24.2% in the fourth quarter. Wolverine Asset Management LLC now owns 135,365 shares of the financial services provider's stock worth $604,000 after buying an additional 26,388 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of The Gabelli Multimedia Trust by 94.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 44,320 shares of the financial services provider's stock valued at $218,000 after acquiring an additional 21,501 shares during the period. Finally, One Capital Management LLC purchased a new position in The Gabelli Multimedia Trust during the fourth quarter valued at approximately $50,000. 10.63% of the stock is owned by institutional investors.
The Gabelli Multimedia Trust Stock Up 0.7 %
Shares of GGT traded up $0.03 during mid-day trading on Friday, reaching $4.31. 22,102 shares of the stock traded hands, compared to its average volume of 94,524. The Gabelli Multimedia Trust Inc. has a 1 year low of $4.00 and a 1 year high of $5.98. The firm has a fifty day moving average price of $4.70 and a 200 day moving average price of $4.75.
The Gabelli Multimedia Trust Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 20.42%. The ex-dividend date was Monday, March 17th.
The Gabelli Multimedia Trust Profile
(
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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