Goldman Sachs MLP Income Opportunities Fund (NYSE:GMZ) shares reached a new 52-week low on Tuesday after an insider sold shares in the company. The company traded as low as $7.97 and last traded at $8.03, with a volume of 422700 shares. The stock had previously closed at $8.28.

Specifically, COO David M. Solomon sold 12,707 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $237.94, for a total value of $3,023,503.58. Following the sale, the chief operating officer now owns 220,581 shares in the company, valued at $52,485,043.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Gregory K. Palm sold 2,292 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $238.68, for a total value of $547,054.56. Following the completion of the sale, the vice president now owns 962,833 shares in the company, valued at approximately $229,808,980.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,548 shares of company stock worth $27,503,691.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 21st will be paid a $0.21 dividend. The ex-dividend date is Monday, November 20th. This represents a $0.84 dividend on an annualized basis and a yield of 10.58%.

A number of hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its stake in Goldman Sachs MLP Income Opportunities Fund by 29.2% in the second quarter. Advisors Asset Management Inc. now owns 809,709 shares of the investment management company’s stock worth $7,797,000 after purchasing an additional 182,859 shares during the period. Terril Brothers Inc. increased its stake in Goldman Sachs MLP Income Opportunities Fund by 2.9% in the third quarter. Terril Brothers Inc. now owns 743,779 shares of the investment management company’s stock worth $6,939,000 after purchasing an additional 20,945 shares during the period. Wells Fargo & Company MN increased its stake in Goldman Sachs MLP Income Opportunities Fund by 11.4% in the third quarter. Wells Fargo & Company MN now owns 641,423 shares of the investment management company’s stock worth $5,985,000 after purchasing an additional 65,443 shares during the period. Royal Bank of Canada increased its stake in Goldman Sachs MLP Income Opportunities Fund by 470.5% in the second quarter. Royal Bank of Canada now owns 412,944 shares of the investment management company’s stock worth $3,977,000 after purchasing an additional 340,560 shares during the period. Finally, City of London Investment Management Co. Ltd. increased its stake in shares of Goldman Sachs MLP Income Opportunities Fund by 6.7% during the second quarter. City of London Investment Management Co. Ltd. now owns 379,246 shares of the investment management company’s stock valued at $3,650,000 after buying an additional 23,921 shares during the period.

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About Goldman Sachs MLP Income Opportunities Fund

Goldman Sachs MLP Income Opportunities Fund (the Fund) is a non-diversified, closed-end management investment company. The Fund seeks a high level of total return with an emphasis on current distributions to shareholders. The Fund seeks to achieve its investment objective by investing primarily in master limited partnerships (MLPs).

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