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Gabelli Multimedia Trust Appoints Susan Watson Laughlin to the Board of Trustees
Globe Newswire (Mon, 25-Mar 8:56 AM ET)
Globe Newswire (Wed, 14-Feb 9:20 AM ET)
The Fund’s investment objective is long term growth of capital. The Fund will invest at least 80% of its assets, under normal market conditions, 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 will provide shareholders with notice at least sixty days prior to the implementation of any change in the 80% Policy.
Gabelli Multimedia Trust trades on the NYSE stock market under the symbol GGT.
As of April 29, 2024, GGT stock price climbed to $5.47 with 31,097 million shares trading.
GGT has a beta of 1.14, meaning it tends to be more sensitive to market movements. GGT has a correlation of 0.17 to the broad based SPY ETF.
GGT has a market cap of $153.56 million. This is considered a Micro Cap stock.
In the last 3 years, GGT stock traded as high as $11.59 and as low as $4.32.
GGT has underperformed the market in the last year with a return of +11.8%, while the SPY ETF gained +27.8%. In the last 3 month period, GGT fell short of the market, returning +4.8%, while SPY returned +5.0%. However, in the most recent 2 weeks GGT has outperformed the stock market by returning +1.7%, while SPY returned -0.2%.
GGT support price is $5.32 and resistance is $5.50 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GGT stock will trade within this expected range on the day.