Shaker Financial Services Lowers stake in Gabelli Multimedia Trust Inc (GGT)

Gabelli Multimedia Trust Inc (GGT) : Shaker Financial Services reduced its stake in Gabelli Multimedia Trust Inc by 36.7% during the most recent quarter end. The investment management company now holds a total of 332,308 shares of Gabelli Multimedia Trust Inc which is valued at $2,459,079 after selling 192,695 shares in Gabelli Multimedia Trust Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Gabelli Multimedia Trust Inc makes up approximately 1.66% of Shaker Financial Services’s portfolio.

Other Hedge Funds, Including , Concert Wealth Management reduced its stake in GGT by selling 134 shares or 0.47% in the most recent quarter. The Hedge Fund company now holds 28,292 shares of GGT which is valued at $211,058. Gabelli Multimedia Trust Inc makes up approx 0.03% of Concert Wealth Management’s portfolio.Advisory Services Network reduced its stake in GGT by selling 34 shares or 1.95% in the most recent quarter. The Hedge Fund company now holds 1,706 shares of GGT which is valued at $12,676.Msi Financial Services Inc reduced its stake in GGT by selling 2,907 shares or 32.0% in the most recent quarter. The Hedge Fund company now holds 6,176 shares of GGT which is valued at $45,888. Deschutes Portfolio Strategy added GGT to its portfolio by purchasing 14,397 company shares during the most recent quarter which is valued at $105,674. Gabelli Multimedia Trust Inc makes up approx 0.06% of Deschutes Portfolio Strategy’s portfolio.

Gabelli Multimedia Trust Inc (GGT) witnessed a volatile trading activity on Thursday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $7.42 and reached the intraday high at $7.42. The bulls started the profit booking and pushed the shares to intraday low of $7.38. The trading session was marked by a volume range of 68,525 shares exchanging hands. The 52-week high of the shares is $9.25 and the 52-week low is $6.05. The market cap of the company stands at $106 M and there are 1,42,85,000 shares in public circulation.

The Gabelli Multimedia Trust Inc. (the Fund) is a United States-based non-diversified closed-end management investment company. The Fund’s investment objective is long term growth of capital. The Fund invests at least 80% of its assets in common stock and other securities including convertible securities preferred stock options and warrants of companies in the telecommunications media publishing and entertainment industries (the 80% Policy). The 80% Policy may be changed without shareholder approval. The Fund seeks opportunities for long term growth within the context of two investment universes: companies involved in creativity and companies involved in distribution as it relates to the delivery of these copyrights. The Fund invests in companies participating in emerging technological advances in interactive services and products. The Gabelli Global Multimedia Trust Inc.’s investment advisor is Gabelli Funds LLC.

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