Wolverine Asset Management LLC Purchases Shares of 108,977 The Gabelli Multimedia Trust Inc. (NYSE:GGT)

Wolverine Asset Management LLC acquired a new stake in shares of The Gabelli Multimedia Trust Inc. (NYSE:GGT) during the third quarter, HoldingsChannel reports. The firm acquired 108,977 shares of the financial services provider’s stock, valued at approximately $537,000.

A number of other large investors have also modified their holdings of GGT. Quarry LP bought a new position in The Gabelli Multimedia Trust during the second quarter worth about $438,000. Atomi Financial Group Inc. raised its holdings in shares of The Gabelli Multimedia Trust by 7.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 53,947 shares of the financial services provider’s stock worth $266,000 after buying an additional 3,854 shares in the last quarter. PFG Investments LLC acquired a new position in shares of The Gabelli Multimedia Trust in the 3rd quarter worth approximately $53,000. NBC Securities Inc. bought a new position in shares of The Gabelli Multimedia Trust during the 3rd quarter worth approximately $29,000. Finally, Beacon Capital Management LLC acquired a new stake in The Gabelli Multimedia Trust in the 1st quarter valued at $32,000. 10.63% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Multimedia Trust Trading Down 1.2 %

The Gabelli Multimedia Trust stock opened at $4.75 on Thursday. The stock has a fifty day moving average price of $4.83 and a two-hundred day moving average price of $5.15. The Gabelli Multimedia Trust Inc. has a 52-week low of $4.56 and a 52-week high of $6.25.

The Gabelli Multimedia Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 18.53%. The ex-dividend date was Monday, September 16th.

About The 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.