Key Details
Price
$5.03Last Dividend
$0.44Annual ROE
22.21%Beta
0.37Events Calendar
Next earnings date:
N/ARecent quarterly earnings:
N/ARecent annual earnings:
N/ANext ex-dividend date:
Dec 13, 2024Recent ex-dividend date:
Sept 16, 2024Next split:
N/ARecent split:
June 28, 2024Analyst ratings
Recent major analysts updates
Market Data
Dividend
Profitability
Efficiency
Valuation
Liquidity
Cash Flow
Institutional Ownership
Similar stocks
On July 26, 2024, SIT Investment Associates Inc made a significant addition to its portfolio by acquiring 1,982,368 shares of Gabelli Multimedia Trust Inc (GGT, Financial). This transaction, executed at a price of $4.94 per share, marks a notable expansion in the firm's investment in the asset management sector.
RYE, N.Y., Aug. 23, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Multimedia Trust Inc. (NYSE:GGT) (the “Fund”) reaffirmed and satisfied its 10% distribution policy by declaring a $0.22 per share cash distribution payable on September 23, 2024 to common stock shareholders of record on September 16, 2024.
Those who follow my articles probably know how bullish I have been on the Neuberger Berman Next Generation Connectivity Fund Inc over the past year. On the other hand, I've written several articles over the years telling you to sell The Gabelli Multimedia Trust Inc. due to its unwieldy NAV yield that continues to decimate GGT's NAV. Because if you can't reasonably be expected to cover your NAV yield, then you will see continuous NAV erosion resulting in a distribution cut, or in GGT's case, another rights offering.
RYE, N.Y., June 18, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Multimedia Trust Inc. (NYSE: GGT) (the “Fund”) has approved a transferable rights offering which would allow the Fund's record date common shareholders to acquire additional shares of common stock (the “Offering”). The Offering will be made only by means of a prospectus supplement and accompanying prospectus, and this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Fund's securities.
In 2018, we warned about premium valuations in equity CEFs before a correction and bear market occurred. We believe that the current wide discounts in many CEFs are due to institutional shareholders reducing or liquidating their exposure. The presence of ultra high premium valued funds suggests the presence of "dumb money" in CEFs and potentially in the broader markets.
The Gabelli Multimedia fund (GGT) is, right now, the most over-priced technology and multimedia focused CEF in history. The fund has actually lost NAV during one of the great bull markets in technology this year. GGT's NAV started the year at $3.89 and it closed Friday at $3.83. That's what happens when you have a 23.0% NAV yield that has very little chance of being covered by the fund's holdings and the end result is continued NAV erosion.
The Gabelli Multimedia Trust is an equity closed end fund. The CEF takes leveraged positions in Telecom and Media equities.
FAQ
- What is the primary business of Gabelli Multimedia Trust?
- What is the ticker symbol for Gabelli Multimedia Trust?
- Does Gabelli Multimedia Trust pay dividends?
- What sector is Gabelli Multimedia Trust in?
- What industry is Gabelli Multimedia Trust in?
- What country is Gabelli Multimedia Trust based in?
- When did Gabelli Multimedia Trust go public?
- Is Gabelli Multimedia Trust in the S&P 500?
- Is Gabelli Multimedia Trust in the NASDAQ 100?
- Is Gabelli Multimedia Trust in the Dow Jones?
- When does Gabelli Multimedia Trust report earnings?