The Gabelli Utility Trust (NYSE:GUT – Get Free Report) announced a monthly dividend on Wednesday, August 12th. Shareholders of record on Friday, November 13th will be given a dividend of 0.05 per share by the investment management company on Friday, November 20th. This represents a c) dividend on an annualized basis and a yield of 9.2%. The ex-dividend date is Friday, November 13th.
The Gabelli Utility Trust Stock Up 1.9%
NYSE:GUT opened at $6.50 on Thursday. The firm’s fifty day simple moving average is $6.48 and its 200-day simple moving average is $6.23. The Gabelli Utility Trust has a fifty-two week low of $5.42 and a fifty-two week high of $7.07.
Institutional Investors Weigh In On The Gabelli Utility Trust
A number of institutional investors and hedge funds have recently modified their holdings of GUT. Elevation Point Wealth Partners LLC purchased a new position in The Gabelli Utility Trust in the 2nd quarter valued at approximately $89,000. Dynamic Advisor Solutions LLC increased its stake in shares of The Gabelli Utility Trust by 8.9% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 21,111 shares of the investment management company’s stock worth $139,000 after purchasing an additional 1,729 shares in the last quarter. CoreCap Advisors LLC grew its holdings in The Gabelli Utility Trust by 63.8% during the 2nd quarter. CoreCap Advisors LLC now owns 163,484 shares of the investment management company’s stock valued at $1,077,000 after buying an additional 63,693 shares during the last quarter. Core Wealth Advisors Inc. acquired a new stake in shares of The Gabelli Utility Trust during the 1st quarter worth about $209,000. Finally, Royal Bank of Canada grew its holdings in The Gabelli Utility Trust by 102.4% in the first quarter. Royal Bank of Canada now owns 80,083 shares of the investment management company’s stock valued at $485,000 after purchasing an additional 40,507 shares during the period.
The Gabelli Utility Trust Company Profile
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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