The Gabelli Utility Trust (NYSE:GUT) Sees Significant Drop in Short Interest

The Gabelli Utility Trust (NYSE:GUTGet Rating) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totalling 535,800 shares, a decrease of 51.7% from the April 15th total of 1,110,000 shares. Based on an average daily volume of 223,600 shares, the short-interest ratio is currently 2.4 days.

Several hedge funds have recently made changes to their positions in the business. Coco Enterprises LLC acquired a new stake in The Gabelli Utility Trust in the third quarter valued at about $310,000. Morgan Stanley lifted its holdings in shares of The Gabelli Utility Trust by 4.7% in the 3rd quarter. Morgan Stanley now owns 756,786 shares of the investment management company’s stock valued at $5,952,000 after buying an additional 33,904 shares during the period. CoreCap Advisors LLC purchased a new stake in shares of The Gabelli Utility Trust in the first quarter valued at approximately $202,000. Leverty Financial Group LLC acquired a new position in The Gabelli Utility Trust during the fourth quarter worth $212,000. Finally, Kestra Advisory Services LLC raised its position in The Gabelli Utility Trust by 119.5% in the first quarter. Kestra Advisory Services LLC now owns 45,654 shares of the investment management company’s stock worth $326,000 after acquiring an additional 24,853 shares in the last quarter.

Shares of The Gabelli Utility Trust stock remained flat at $$7.03 during mid-day trading on Friday. The company’s stock had a trading volume of 129,580 shares, compared to its average volume of 192,717. The Gabelli Utility Trust has a fifty-two week low of $6.79 and a fifty-two week high of $8.36. The company has a fifty day moving average price of $7.19 and a 200-day moving average price of $7.80.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, June 23rd. Shareholders of record on Wednesday, June 15th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, June 14th. This represents a $0.60 dividend on an annualized basis and a yield of 8.53%.

About The Gabelli Utility Trust (Get Rating)

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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