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

The Gabelli Utility Trust (NYSE:GUT)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $6.14 and traded as high as $6.28. The Gabelli Utility Trust shares last traded at $6.27, with a volume of 118,853 shares.

The Gabelli Utility Trust Trading Up 0.3%

The stock’s fifty day simple moving average is $6.14 and its 200-day simple moving average is $6.08.

The Gabelli Utility Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.05 per share. This represents a c) annualized dividend and a yield of 9.6%. The ex-dividend date is Wednesday, September 16th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in The Gabelli Utility Trust during the 2nd quarter worth approximately $60,000. Ameriprise Financial Inc. acquired a new position in The Gabelli Utility Trust during the 3rd quarter worth approximately $70,000. Composition Wealth LLC acquired a new position in The Gabelli Utility Trust during the 4th quarter worth approximately $72,000. Integrity Advisory Solutions LLC acquired a new position in The Gabelli Utility Trust during the 3rd quarter worth approximately $80,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in The Gabelli Utility Trust during the 3rd quarter worth approximately $82,000.

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.