Gabelli Funds increases stake in Viacom by 1 percent to 9.64 percent
By APWednesday, September 16, 2009
Gabelli Funds increases stake in Viacom
RYE, N.Y. — GAMCO Investors Inc., which administers the Gabelli Funds family of mutual funds, Wednesday reported that it had increased its ownership in Viacom Inc. by 1 percent to 9.64 percent of Class A shares.
The investment was made on behalf of its clients, GAMCO said. It has $21.4 billion in assets under management.
Shares of media conglomerate Viacom rose 50 cents, or 1.8 percent, to $28.11 in midday trading.
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