Goldman Sachs MLP Income Opportun Fund (NYSE:GMZ) Stock Crosses Below Fifty Day Moving Average After Insider Selling

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Goldman Sachs MLP Income Opportun Fund (NYSE:GMZ) passed below its 50-day moving average during trading on Tuesday following insider selling activity. The stock has a 50-day moving average of $7.60 and traded as low as $6.98. Goldman Sachs MLP Income Opportun Fund shares last traded at $6.98, with a volume of 6,138 shares traded.

Specifically, major shareholder Goldman Sachs Group Inc bought 13,198 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were purchased at an average price of $16.19 per share, with a total value of $213,675.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Dane E. Holmes sold 2,406 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $212.11, for a total value of $510,336.66. Following the sale, the executive vice president now directly owns 7,855 shares in the company, valued at approximately $1,666,124.05. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 17,359 shares of company stock valued at $284,807 and have sold 2,391,995 shares valued at $33,995,949.

The company has a fifty day moving average of $7.60 and a 200 day moving average of $7.90.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 21st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.84 annualized dividend and a yield of 12.05%.

A number of large investors have recently made changes to their positions in GMZ. Zazove Associates LLC bought a new position in shares of Goldman Sachs MLP Income Opportun Fund in the second quarter valued at $35,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Goldman Sachs MLP Income Opportun Fund in the second quarter valued at $39,000. Morse Asset Management Inc bought a new position in shares of Goldman Sachs MLP Income Opportun Fund in the second quarter valued at $93,000. HighTower Advisors LLC increased its holdings in shares of Goldman Sachs MLP Income Opportun Fund by 17.3% in the second quarter. HighTower Advisors LLC now owns 15,594 shares of the investment management company’s stock valued at $121,000 after buying an additional 2,300 shares in the last quarter. Finally, MML Investors Services LLC increased its holdings in shares of Goldman Sachs MLP Income Opportun Fund by 10.1% in the second quarter. MML Investors Services LLC now owns 32,661 shares of the investment management company’s stock valued at $254,000 after buying an additional 3,000 shares in the last quarter.

About Goldman Sachs MLP Income Opportun Fund (NYSE:GMZ)

Goldman Sachs MLP Income Opportunities Fund is a closed ended equity mutual fund launched and managed by Goldman Sachs Asset Management, L.P. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating in the energy sector. It primarily invests in "midstream" master limited partnerships that are engaged in the treatment, gathering, compression, processing, transportation, transmission, fractionation, storage, and termination of natural gas, natural gas liquids, crude oil, refined products or coal.

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