The Gabelli Global Utility & Income Trust (NYSE:GLU) to Issue Monthly Dividend of $0.10

The Gabelli Global Utility & Income Trust (NYSE:GLU) announced a monthly dividend on Monday, November 20th, Wall Street Journal reports. Shareholders of record on Wednesday, February 14th will be paid a dividend of 0.10 per share on Thursday, February 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.65%. The ex-dividend date of this dividend is Tuesday, February 13th.

The Gabelli Global Utility & Income Trust Stock Down 0.5 %

Shares of GLU stock traded down $0.06 on Monday, hitting $12.43. 17,024 shares of the company’s stock were exchanged, compared to its average volume of 16,287. The stock’s 50 day moving average is $12.90. The Gabelli Global Utility & Income Trust has a 12 month low of $11.61 and a 12 month high of $15.51.

Insider Transactions at The Gabelli Global Utility & Income Trust

In related news, insider Mario J. Gabelli purchased 59,886 shares of the stock in a transaction dated Friday, September 15th. The stock was bought at an average cost of $50.31 per share, for a total transaction of $3,012,864.66. Following the completion of the acquisition, the insider now owns 59,886 shares of the company’s stock, valued at $3,012,864.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other The Gabelli Global Utility & Income Trust news, insider Mario J. Gabelli sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $50.30, for a total transaction of $125,750.00. Following the sale, the insider now directly owns 81,500 shares of the company’s stock, valued at approximately $4,099,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mario J. Gabelli purchased 59,886 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average cost of $50.31 per share, with a total value of $3,012,864.66. Following the purchase, the insider now directly owns 59,886 shares of the company’s stock, valued at approximately $3,012,864.66. The disclosure for this purchase can be found here.

Institutional Trading of The Gabelli Global Utility & Income Trust

A hedge fund recently raised its stake in The Gabelli Global Utility & Income Trust stock. UBS Group AG grew its position in The Gabelli Global Utility & Income Trust (NYSE:GLU) by 121.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,443 shares of the company’s stock after purchasing an additional 22,708 shares during the quarter. UBS Group AG’s holdings in The Gabelli Global Utility & Income Trust were worth $560,000 as of its most recent filing with the SEC.

The Gabelli Global Utility & Income Trust Company Profile

The Gabelli Global Utility & Income Trust is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in public equity markets across the globe. It primarily invests in stocks of companies involved to a substantial extent in providing products, services, or equipment for the generation or distribution of electricity, gas, or water and infrastructure operations, and in equity securities including preferred securities of companies in other industries, in each case in such securities that are expected to pay periodic dividends.