Gabelli Multimedia Trust Inc (NYSE:GGT) Director James P. Conn Sells 26,120 Shares

Gabelli Multimedia Trust Inc (NYSE:GGT) Director James P. Conn sold 26,120 shares of Gabelli Multimedia Trust stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $8.52, for a total transaction of $222,542.40. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $8,520. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of NYSE:GGT traded up $0.02 during trading on Monday, reaching $8.52. 977 shares of the company’s stock traded hands, compared to its average volume of 51,332. Gabelli Multimedia Trust Inc has a 12 month low of $6.90 and a 12 month high of $9.46. The company has a 50 day moving average of $8.30 and a 200-day moving average of $8.32.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wall Street Access Asset Management LLC bought a new position in Gabelli Multimedia Trust in the second quarter worth about $101,000. Measured Wealth Private Client Group LLC bought a new position in Gabelli Multimedia Trust during the 2nd quarter worth $124,000. Sheaff Brock Investment Advisors LLC grew its stake in Gabelli Multimedia Trust by 11.2% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 19,803 shares of the financial services provider’s stock worth $160,000 after buying an additional 2,000 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV increased its position in Gabelli Multimedia Trust by 16.9% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 27,700 shares of the financial services provider’s stock worth $230,000 after buying an additional 4,000 shares during the period. Finally, Creative Planning increased its position in Gabelli Multimedia Trust by 8.2% in the first quarter. Creative Planning now owns 29,128 shares of the financial services provider’s stock worth $242,000 after buying an additional 2,198 shares during the period. Hedge funds and other institutional investors own 5.34% of the company’s stock.

About 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.

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