Sheaff Brock Investment Advisors LLC Cuts Stake in The Gabelli Multimedia Trust Inc. (NYSE:GGT)

Sheaff Brock Investment Advisors LLC lessened its holdings in The Gabelli Multimedia Trust Inc. (NYSE:GGT) by 53.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,629 shares of the financial services provider’s stock after selling 15,382 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in The Gabelli Multimedia Trust were worth $67,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GGT. Beacon Capital Management LLC purchased a new position in shares of The Gabelli Multimedia Trust in the first quarter worth about $32,000. Atomi Financial Group Inc. lifted its position in The Gabelli Multimedia Trust by 15.9% in the second quarter. Atomi Financial Group Inc. now owns 50,093 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 6,864 shares during the last quarter. Quarry LP bought a new stake in The Gabelli Multimedia Trust in the second quarter valued at approximately $438,000. NBC Securities Inc. purchased a new stake in shares of The Gabelli Multimedia Trust during the third quarter valued at approximately $29,000. Finally, PFG Investments LLC bought a new position in shares of The Gabelli Multimedia Trust in the third quarter worth approximately $53,000. 10.63% of the stock is owned by institutional investors.

The Gabelli Multimedia Trust Trading Down 0.4 %

NYSE:GGT opened at $4.76 on Friday. The company has a fifty day moving average of $4.82 and a 200 day moving average of $5.14. 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 will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 18.49%.

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.