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The Gabelli Multimedia Trust Inc. - GGT STOCK NEWS

Welcome to our dedicated page for The Gabelli Multimedia Trust news (Ticker: GGT), a resource for investors and traders seeking the latest updates and insights on The Gabelli Multimedia Trust stock.

The Gabelli Multimedia Trust Inc. (GGT) is a non-diversified closed-end management investment company with a primary investment objective of long-term capital growth and a secondary objective of income. Under regular market conditions, the Trust invests a significant portion of its assets in common stocks and other securities of companies operating in the telecommunications, media, publishing, and entertainment industries. These include convertible securities, preferred stocks, options, and warrants.

Founded by Mario J. Gabelli, the Trust is managed by GAMCO Investors, Inc., a reputable provider of investment advisory services to both open and closed-end funds. Established in 1977, GAMCO has earned recognition for its research-intensive approach to equity investing and its proprietary Private Market Value (PMV) with a Catalyst™ stock selection strategy. As of December 31, 2016, GAMCO managed $39.7 billion in assets under management (AUM), with 95% invested in equities.

The Trust leverages the deep industry insights and research capabilities of GAMCO Asset Management Inc. and Gabelli Funds, LLC. These registered investment advisers manage institutional and private wealth, as well as funds. G.Distributors, LLC, acts as the underwriter and distributor for their open-end funds. The Trust’s well-rounded approach allows it to proficiently navigate the dynamic sectors it invests in, aiming for substantial returns over the long term.

For information, contact Carter Austin at (914) 921-5475 or Laurissa Martire at (914) 921-5399.

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The Board of Directors of Gabelli Multimedia Trust (NYSE: GGT) has approved a transferable rights offering for common shareholders to acquire additional shares. Shareholders will receive one Right per share held as of the record date, June 28, 2024. Four Rights plus $5.00 will entitle the holder to purchase one additional share. The Rights are tradable and will begin trading on the NYSE on June 27, 2024. The Offering expires on July 22, 2024. Shareholders fully exercising their Rights can subscribe for additional shares subject to limitations. The Fund manages $166 million in total net assets and is overseen by Gabelli Funds, , a GAMCO Investors subsidiary.

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The Gabelli Multimedia Trust (NYSE:GGT) reaffirmed its 10% distribution policy with a $0.22 per share cash distribution for the second quarter of 2024. This distribution will be paid on June 21, 2024, to shareholders of record on June 13, 2024.

The Fund aims to distribute a minimum of 10% of its average net asset value annually, based on the average values of the last four quarters. The Board of Directors reviews the distribution each quarter, considering the Fund's net asset value and market conditions. Distributions can be modified at any time and may comprise long-term capital gains, qualified dividend income, or a return of capital.

For 2024, all distributions are currently deemed to be from paid-in capital. This status may affect tax treatments for shareholders, who will receive detailed tax information in early 2025. The Board continues to explore strategic opportunities in the equity markets.

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The Gabelli Multimedia Trust Inc. appoints Susan Watson Laughlin to its Board of Directors, bringing extensive experience in investor relations. Investors are advised to consider the Fund's investment objectives and risks before investing.
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The Gabelli Multimedia Trust Inc. (GGT) reaffirmed its 10% distribution policy by declaring a $0.22 per share cash distribution payable on March 21, 2024. The Board of Directors is exploring strategic opportunities in the equity markets, intending to maintain a minimum annual distribution of 10% of the average net asset value.
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Gabelli Multimedia Trust Inc. (NYSE:GGT) reaffirms its 10% distribution policy, declaring a $0.22 per share cash distribution payable on December 22, 2023, totaling $0.88 per share for 2023. The Board of Directors reviews income, realized capital gain, or capital available each quarter to determine distributions. The distribution policy is subject to modification and not indicative of dividend yield or total return. The distribution may be treated as long-term capital gain or qualified dividend income, subject to federal income tax rate for long term capital gains. Shareholders should not draw any conclusions about the fund's investment performance from the distribution rate.
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The Gabelli Multimedia Trust Inc. reaffirmed its 10% distribution policy by declaring a $0.22 per share cash distribution payable on September 22, 2023. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
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FAQ

What is the primary investment objective of Gabelli Multimedia Trust Inc.?

The primary investment objective is long-term growth of capital, with income as a secondary objective.

In which industries does the Trust primarily invest?

The Trust invests largely in telecommunications, media, publishing, and entertainment industries.

Who manages the Gabelli Multimedia Trust Inc.?

It is managed by GAMCO Investors, Inc., a renowned provider of investment advisory services.

What types of securities does Gabelli Multimedia Trust Inc. invest in?

The Trust invests in common stocks, convertible securities, preferred stocks, options, and warrants.

What is the stock selection strategy of GAMCO Investors, Inc.?

GAMCO uses a research-driven approach with a proprietary Private Market Value (PMV) with a Catalyst™ strategy.

How much in assets under management did GAMCO have as of December 31, 2016?

As of December 31, 2016, GAMCO had $39.7 billion in assets under management.

What percentage of GAMCO’s AUM is invested in equities?

Approximately 95% of GAMCO’s assets under management is invested in equities.

Who can be contacted for more information about the Trust?

For more information, contact Carter Austin at (914) 921-5475 or Laurissa Martire at (914) 921-5399.

What role does G.Distributors, LLC play?

G.Distributors, LLC acts as an underwriter and distributor for the open-end funds.

What secondary objective does the Trust consider in its investments?

The Trust considers income as its secondary objective in investment decisions.

The Gabelli Multimedia Trust Inc.

NYSE:GGT

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GGT Stock Data

144.70M
28.17M
3.56%
13.51%
0.8%
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