Peapack Gladstone Financial Corp Lowers Stake in The Gabelli Multimedia Trust Inc. (NYSE:GGT)

Peapack Gladstone Financial Corp lessened its stake in The Gabelli Multimedia Trust Inc. (NYSE:GGT) by 57.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,656 shares of the financial services provider’s stock after selling 42,946 shares during the period. Peapack Gladstone Financial Corp’s holdings in The Gabelli Multimedia Trust were worth $156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in shares of The Gabelli Multimedia Trust during the third quarter worth approximately $29,000. PFG Investments LLC bought a new position in The Gabelli Multimedia Trust in the third quarter worth approximately $53,000. Atomi Financial Group Inc. grew its stake in The Gabelli Multimedia Trust by 7.7% in the third quarter. Atomi Financial Group Inc. now owns 53,947 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 3,854 shares in the last quarter. Quarry LP purchased a new position in The Gabelli Multimedia Trust during the 2nd quarter worth $438,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of The Gabelli Multimedia Trust in the 3rd quarter worth $537,000. Institutional investors own 10.63% of the company’s stock.

The Gabelli Multimedia Trust Price Performance

GGT opened at $4.65 on Tuesday. The business’s fifty day simple moving average is $4.81 and its 200-day simple moving average is $5.03. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 18.92%. The ex-dividend date of this dividend is Friday, December 13th.

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.