The Gabelli Utility Trust (NYSE:GUT – Get Free Report)’s stock price rose 1.9% on Monday. The stock traded as high as $5.45 and last traded at $5.37. 169,177 shares traded hands during trading, a decline of 25% from the average session volume of 224,878 shares. The stock had previously closed at $5.27.
The Gabelli Utility Trust Price Performance
The company has a 50-day moving average of $5.79 and a 200-day moving average of $6.14.
Hedge Funds Weigh In On The Gabelli Utility Trust
Hedge funds have recently made changes to their positions in the business. Baird Financial Group Inc. boosted its position in The Gabelli Utility Trust by 501.2% during the second quarter. Baird Financial Group Inc. now owns 225,794 shares of the investment management company’s stock valued at $1,488,000 after purchasing an additional 188,235 shares during the last quarter. CoreCap Advisors LLC increased its holdings in shares of The Gabelli Utility Trust by 54.7% during the 3rd quarter. CoreCap Advisors LLC now owns 252,884 shares of the investment management company’s stock worth $1,439,000 after acquiring an additional 89,400 shares during the last quarter. Royal Bank of Canada raised its position in shares of 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. Core Wealth Advisors Inc. acquired a new stake in The Gabelli Utility Trust during the first quarter worth approximately $209,000. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of The Gabelli Utility Trust during the second quarter worth $198,000.
The Gabelli Utility Trust Company Profile
The Gabelli Utility Trust (NYSE: GUT) is a diversified closed-end management investment company that seeks to provide investors with a high level of current income and long-term capital appreciation. The trust invests primarily in equity securities of companies involved in the production, transmission, distribution and sale of electricity, gas and other utility services. Its investment focus may also include businesses in related industries, such as telecommunications, cable, energy and infrastructure.
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