Telos Capital Management Inc. Buys New Position in The Gabelli Multimedia Trust Inc. (NYSE:GGT)

Telos Capital Management Inc. bought a new stake in The Gabelli Multimedia Trust Inc. (NYSE:GGT) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 26,355 shares of the financial services provider’s stock, valued at approximately $149,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Chilton Capital Management LLC bought a new position in The Gabelli Multimedia Trust in the first quarter valued at approximately $34,000. First Manhattan Co. bought a new position in The Gabelli Multimedia Trust in the first quarter valued at approximately $44,000. Raymond James Financial Services Advisors Inc. bought a new position in The Gabelli Multimedia Trust in the third quarter valued at approximately $62,000. Creative Planning bought a new position in The Gabelli Multimedia Trust in the fourth quarter valued at approximately $69,000. Finally, Belpointe Asset Management LLC bought a new position in The Gabelli Multimedia Trust in the first quarter valued at approximately $79,000. Institutional investors and hedge funds own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Stock Performance

GGT stock opened at $5.29 on Thursday. The business has a 50 day moving average price of $5.59 and a two-hundred day moving average price of $5.49. The Gabelli Multimedia Trust Inc. has a twelve month low of $4.32 and a twelve month high of $7.00.

The Gabelli Multimedia Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 14th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 16.64%.

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.