Gabelli Multimedia Trust (NYSE:GGT) Shares Cross Above 200 Day Moving Average of $8.32

Gabelli Multimedia Trust Inc (NYSE:GGT)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.32 and traded as high as $8.42. Gabelli Multimedia Trust shares last traded at $8.40, with a volume of 700 shares trading hands.

The stock’s 50-day moving average price is $8.34 and its 200-day moving average price is $8.32.

In other news, Director James P. Conn sold 6,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $8.22, for a total value of $49,320.00. Following the completion of the sale, the director now owns 27,120 shares of the company’s stock, valued at $222,926.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James P. Conn sold 26,120 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $8.52, for a total transaction of $222,542.40. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $8,520. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in GGT. Mid Atlantic Financial Management Inc. ADV lifted its position in Gabelli Multimedia Trust by 46.9% during the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 40,700 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 13,000 shares during the period. Wall Street Access Asset Management LLC bought a new stake in Gabelli Multimedia Trust during the second quarter worth about $101,000. Gamco Investors INC. ET AL lifted its position in Gabelli Multimedia Trust by 2.4% during the second quarter. Gamco Investors INC. ET AL now owns 795,547 shares of the financial services provider’s stock worth $6,412,000 after purchasing an additional 18,947 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Gabelli Multimedia Trust by 1.0% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 310,076 shares of the financial services provider’s stock worth $2,499,000 after purchasing an additional 3,065 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in Gabelli Multimedia Trust by 57.6% during the second quarter. Commonwealth Equity Services LLC now owns 84,947 shares of the financial services provider’s stock worth $684,000 after purchasing an additional 31,046 shares during the period. 5.34% of the stock is owned by institutional investors.

About Gabelli Multimedia Trust (NYSE:GGT)

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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