The Gabelli Utility Trust (NYSE:GUT) Stock Passes Above 50-Day Moving Average – Here’s What Happened

Shares of The Gabelli Utility Trust (NYSE:GUTGet Free Report) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $6.52 and traded as high as $6.57. The Gabelli Utility Trust shares last traded at $6.5450, with a volume of 98,693 shares trading hands.

The Gabelli Utility Trust Trading Up 0.2%

The business’s 50-day moving average price is $6.52 and its 200-day moving average price is $6.29.

The Gabelli Utility Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 11th will be paid a $0.05 dividend. This represents a c) dividend on an annualized basis and a yield of 9.2%. The ex-dividend date of this dividend is Friday, December 11th.

Hedge Funds Weigh In On The Gabelli Utility Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GUT. Plus Group Wealth Advisors LLC purchased a new stake in The Gabelli Utility Trust in the 4th quarter worth approximately $1,073,000. Arlington Capital Management Inc. acquired a new stake in shares of The Gabelli Utility Trust during the first quarter worth $890,000. CoreCap Advisors LLC grew its position in shares of The Gabelli Utility Trust by 63.8% in the second quarter. CoreCap Advisors LLC now owns 163,484 shares of the investment management company’s stock valued at $1,077,000 after purchasing an additional 63,693 shares during the period. Core Wealth Advisors Inc. purchased a new position in The Gabelli Utility Trust during the first quarter worth about $209,000. Finally, Royal Bank of Canada boosted its stake in The Gabelli Utility Trust by 102.4% in the 1st quarter. Royal Bank of Canada now owns 80,083 shares of the investment management company’s stock worth $485,000 after buying an additional 40,507 shares during the last quarter.

The Gabelli Utility Trust Company Profile

(Get Free Report)

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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