Gabelli Multimedia Trust (NYSE:GGT) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Gabelli Multimedia Trust Inc. (NYSE:GGT) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.18 and traded as high as $4.22. Gabelli Multimedia Trust shares last traded at $4.18, with a volume of 185,240 shares traded.

Gabelli Multimedia Trust Price Performance

The stock has a 50 day moving average of $4.17 and a 200 day moving average of $4.18.

Gabelli Multimedia Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.08 per share. This is a boost from Gabelli Multimedia Trust’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a dividend yield of 23.0%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC lifted its stake in 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 worth $154,000 after purchasing an additional 2,882 shares during the last quarter. PMG Family Office LLC acquired a new position in shares of Gabelli Multimedia Trust during the 3rd quarter worth $301,000. Ameriprise Financial Inc. bought a new stake in shares of Gabelli Multimedia Trust during the 3rd quarter worth $49,000. Raymond James Financial Inc. boosted its stake in Gabelli Multimedia Trust by 122.4% in the third quarter. Raymond James Financial Inc. now owns 14,348 shares of the financial services provider’s stock valued at $62,000 after buying an additional 7,897 shares in the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in Gabelli Multimedia Trust in the third quarter valued at about $100,000. 10.63% of the stock is currently owned by institutional investors and hedge funds.

About Gabelli Multimedia Trust

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.