The Gabelli Multimedia Trust Inc. Announces Monthly Dividend of $0.07 (NYSE:GGT)

The Gabelli Multimedia Trust Inc. (NYSE:GGT) declared a monthly dividend on Monday, May 19th, Wall Street Journal reports. Investors of record on Tuesday, September 16th will be given a dividend of 0.07 per share by the financial services provider on Tuesday, September 23rd. This represents a $0.84 annualized dividend and a yield of 20.29%. The ex-dividend date of this dividend is Tuesday, September 16th.

The Gabelli Multimedia Trust Trading Down 1.2%

Shares of GGT opened at $4.14 on Tuesday. The Gabelli Multimedia Trust has a 1-year low of $4.00 and a 1-year high of $5.98. The company has a 50-day moving average of $4.49 and a 200 day moving average of $4.69.

Insider Transactions at The Gabelli Multimedia Trust

In other news, insider Mario J. Gabelli purchased 40,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was purchased at an average price of $4.34 per share, for a total transaction of $173,600.00. Following the completion of the acquisition, the insider now owns 1,020,502 shares of the company’s stock, valued at approximately $4,428,978.68. This trade represents a 4.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 9.59% of the company’s stock.

The Gabelli Multimedia Trust Company Profile

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.