The Gabelli Utility Trust (NYSE:GUT) Stock Price Up 1.9% – Here’s What Happened

The Gabelli Utility Trust (NYSE:GUT) shares traded up 1.9% during trading on Monday. The company traded as high as $5.45 and last traded at $5.37. Approximately 169,177 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 224,878 shares. The stock had previously closed at $5.27.

The Gabelli Utility Trust Stock Performance

The company has a 50 day moving average of $5.83 and a 200 day moving average of $6.14.

The Gabelli Utility Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 11th will be issued a $0.05 dividend. This represents a $0.60 annualized dividend and a dividend yield of 11.2%. The ex-dividend date is Friday, December 11th.

Hedge Funds Weigh In On The Gabelli Utility Trust

Several institutional investors have recently modified their holdings of GUT. Commonwealth Equity Services LLC raised its holdings in The Gabelli Utility Trust by 1.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 1,276,256 shares of the investment management company’s stock worth $7,262,000 after buying an additional 16,443 shares during the period. Wedbush Securities Inc. boosted its holdings in shares of The Gabelli Utility Trust by 6.2% in the third quarter. Wedbush Securities Inc. now owns 103,673 shares of the investment management company’s stock valued at $590,000 after buying an additional 6,087 shares during the period. Herold Advisors Inc. boosted its holdings in shares of The Gabelli Utility Trust by 35.7% in the third quarter. Herold Advisors Inc. now owns 15,212 shares of the investment management company’s stock valued at $87,000 after buying an additional 4,000 shares during the period. CoreCap Advisors LLC boosted its holdings in shares of The Gabelli Utility Trust by 54.7% in the third quarter. CoreCap Advisors LLC now owns 252,884 shares of the investment management company’s stock valued at $1,439,000 after buying an additional 89,400 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of The Gabelli Utility Trust during the second quarter worth $177,000.

About The Gabelli Utility Trust

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.