Wolverine Asset Management LLC Makes New Investment in The Gabelli Multimedia Trust Inc. (NYSE:GGT)

Wolverine Asset Management LLC purchased a new position in The Gabelli Multimedia Trust Inc. (NYSE:GGT) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 108,977 shares of the financial services provider’s stock, valued at approximately $537,000. Wolverine Asset Management LLC owned about 0.39% of The Gabelli Multimedia Trust at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GGT. NBC Securities Inc. acquired a new position in The Gabelli Multimedia Trust during the third quarter valued at approximately $29,000. Beacon Capital Management LLC bought a new position in The Gabelli Multimedia Trust in the 1st quarter worth $32,000. PFG Investments LLC acquired a new position in The Gabelli Multimedia Trust during the 3rd quarter worth $53,000. Atomi Financial Group Inc. boosted its holdings in The Gabelli Multimedia Trust by 7.7% during the third quarter. Atomi Financial Group Inc. now owns 53,947 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 3,854 shares during the period. Finally, Quarry LP acquired a new position in shares of The Gabelli Multimedia Trust during the 2nd quarter worth about $438,000. Institutional investors and hedge funds own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Stock Down 1.2 %

GGT opened at $4.75 on Thursday. The stock’s 50 day moving average price is $4.83 and its two-hundred day moving average price is $5.15. The Gabelli Multimedia Trust Inc. has a 12-month low of $4.56 and a 12-month high of $6.25.

The Gabelli Multimedia Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were paid a $0.22 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 18.53%.

The Gabelli Multimedia Trust 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.