Insider Buying: Gabelli Multimedia Trust (NYSE:GGT) Insider Purchases $125,240.00 in Stock

Gabelli Multimedia Trust Inc. (NYSE:GGT) insider Mario Gabelli purchased 31,000 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average cost of $4.04 per share, for a total transaction of $125,240.00. Following the transaction, the insider owned 31,000 shares in the company, valued at $125,240. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Gabelli Multimedia Trust Price Performance

Shares of GGT opened at $4.04 on Friday. The stock has a 50 day moving average price of $4.19 and a two-hundred day moving average price of $4.22. Gabelli Multimedia Trust Inc. has a 52 week low of $3.75 and a 52 week high of $5.13.

Gabelli Multimedia Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 13th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, November 13th. This represents a c) annualized dividend and a yield of 20.8%.

Institutional Trading of Gabelli Multimedia Trust

Several hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in Gabelli Multimedia Trust during the second quarter valued at approximately $27,000. Geneos Wealth Management Inc. bought a new stake in shares of Gabelli Multimedia Trust in the 3rd quarter worth approximately $30,000. Allworth Financial LP purchased a new stake in shares of Gabelli Multimedia Trust in the 2nd quarter valued at $49,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Gabelli Multimedia Trust by 30.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,030 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 3,282 shares in the last quarter. Finally, CoreCap Advisors LLC grew its holdings in shares of Gabelli Multimedia Trust by 848.5% during the 3rd quarter. CoreCap Advisors LLC now owns 15,650 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 14,000 shares during the last quarter. Institutional investors own 10.63% of the company’s stock.

About Gabelli Multimedia Trust

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.