The Gabelli Utility Trust (NYSE:GUT – Get Free Report) announced a monthly dividend on Wednesday, May 13th. Stockholders of record on Wednesday, September 16th will be paid a dividend of 0.05 per share by the investment management company on Wednesday, September 23rd. This represents a c) annualized dividend and a dividend yield of 9.5%. The ex-dividend date of this dividend is Wednesday, September 16th.
The Gabelli Utility Trust Trading Up 1.6%
Shares of The Gabelli Utility Trust stock opened at $6.32 on Thursday. The Gabelli Utility Trust has a 52-week low of $5.30 and a 52-week high of $6.33. The company’s 50-day simple moving average is $6.08 and its 200-day simple moving average is $6.06.
Hedge Funds Weigh In On The Gabelli Utility Trust
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PFG Investments LLC raised its position in The Gabelli Utility Trust by 38.2% in the fourth quarter. PFG Investments LLC now owns 17,155 shares of the investment management company’s stock worth $103,000 after acquiring an additional 4,743 shares in the last quarter. Silver Oak Securities Incorporated purchased a new stake in shares of The Gabelli Utility Trust during the 4th quarter worth $97,000. Accurate Wealth Management LLC boosted its position in shares of The Gabelli Utility Trust by 103.7% during the 4th quarter. Accurate Wealth Management LLC now owns 33,481 shares of the investment management company’s stock worth $205,000 after purchasing an additional 17,046 shares in the last quarter. CoreCap Advisors LLC grew its stake in shares of The Gabelli Utility Trust by 12.2% during the 4th quarter. CoreCap Advisors LLC now owns 77,366 shares of the investment management company’s stock worth $467,000 after purchasing an additional 8,400 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its stake in shares of The Gabelli Utility Trust by 15.9% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 17,751 shares of the investment management company’s stock worth $107,000 after purchasing an additional 2,429 shares during the period.
About The Gabelli Utility Trust
The Gabelli Utility Trust (NYSE:GUT) is a closed-end management investment company that focuses on equity investments in the utilities sector. Established in 1989, the trust seeks to provide shareholders with a combination of monthly income and long-term capital appreciation by investing primarily in the common stocks of companies that own or operate regulated utility assets.
The trust’s portfolio typically includes holdings in electric, natural gas, water and pipeline transportation companies, with an emphasis on businesses that generate stable cash flows through regulated rate structures.
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