Gabelli Utility Trust (NYSE:GUT) Trading Up 15.1%

Shares of Gabelli Utility Trust (NYSE:GUT) were up 15.1% during mid-day trading on Monday . The stock traded as high as $6.48 and last traded at $6.10, approximately 290,016 shares were traded during mid-day trading. An increase of 39% from the average daily volume of 208,084 shares. The stock had previously closed at $5.30.

The company has a fifty day moving average price of $6.73 and a 200-day moving average price of $7.44.

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Tuesday, June 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.60 dividend on an annualized basis and a yield of 9.84%.

In related news, insider Mario J. Gabelli sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $7.87, for a total value of $39,350.00. Following the completion of the transaction, the insider now owns 692,022 shares of the company’s stock, valued at approximately $5,446,213.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new position in Gabelli Utility Trust in the 4th quarter worth about $70,000. Calton & Associates Inc. purchased a new stake in shares of Gabelli Utility Trust in the fourth quarter valued at approximately $82,000. Mid Atlantic Financial Management Inc. ADV purchased a new stake in shares of Gabelli Utility Trust in the fourth quarter valued at approximately $85,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Gabelli Utility Trust in the fourth quarter valued at approximately $156,000. Finally, Sage Rhino Capital LLC grew its position in shares of Gabelli Utility Trust by 19.2% in the fourth quarter. Sage Rhino Capital LLC now owns 21,700 shares of the investment management company’s stock valued at $173,000 after purchasing an additional 3,500 shares in the last quarter.

About Gabelli Utility Trust (NYSE:GUT)

The Gabelli Utility Trust is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in the public equity markets across the globe. It makes its investments in stocks of companies providing products, services, or equipment for the generation or distribution of electricity, gas, water, telecommunications services, and infrastructure operations.

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