The Gabelli Utility Trust (NYSE:GUT) Declares $0.05 Monthly Dividend

The Gabelli Utility Trust (NYSE:GUT) announced a monthly dividend on Wednesday, August 12th. Stockholders of record on Friday, October 16th will be paid a dividend of 0.05 per share by the investment management company on Friday, October 23rd. This represents a c) annualized dividend and a dividend yield of 9.2%. The ex-dividend date is Friday, October 16th.

The Gabelli Utility Trust Trading Up 1.9%

NYSE GUT opened at $6.50 on Thursday. The firm’s 50 day moving average price is $6.48 and its 200-day moving average price is $6.23. The Gabelli Utility Trust has a 52-week low of $5.42 and a 52-week high of $7.07.

Institutional Trading of The Gabelli Utility Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Baird Financial Group Inc. bought a new position in shares of The Gabelli Utility Trust in the 2nd quarter worth $237,000. Raymond James Financial Inc. boosted its position in The Gabelli Utility Trust by 2.0% during the second quarter. Raymond James Financial Inc. now owns 103,729 shares of the investment management company’s stock valued at $602,000 after purchasing an additional 2,042 shares in the last quarter. Jane Street Group LLC purchased a new position in The Gabelli Utility Trust in the second quarter valued at about $60,000. Bank of America Corp DE grew its stake in The Gabelli Utility Trust by 58.1% in the second quarter. Bank of America Corp DE now owns 31,908 shares of the investment management company’s stock valued at $185,000 after purchasing an additional 11,720 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in The Gabelli Utility Trust by 54.6% in the third quarter. Envestnet Asset Management Inc. now owns 63,788 shares of the investment management company’s stock worth $387,000 after purchasing an additional 22,523 shares in the last quarter.

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.