The Gabelli Global Utility & Income Trust (NYSEAMERICAN:GLU) Sees Large Drop in Short Interest

The Gabelli Global Utility & Income Trust (NYSEAMERICAN:GLU) saw a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 3,381 shares, a decrease of 40.0% from the May 14th total of 5,632 shares. Based on an average daily trading volume, of 8,614 shares, the days-to-cover ratio is presently 0.4 days.

The Gabelli Global Utility & Income Trust Trading Down 0.1%

Shares of GLU stock traded down $0.01 on Tuesday, hitting $19.00. The company had a trading volume of 9,924 shares, compared to its average volume of 10,884. The stock’s 50-day moving average is $19.48 and its two-hundred day moving average is $19.69. The Gabelli Global Utility & Income Trust has a twelve month low of $16.64 and a twelve month high of $21.69.

The Gabelli Global Utility & Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be given a $0.11 dividend. The ex-dividend date is Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%.

Institutional Investors Weigh In On The Gabelli Global Utility & Income Trust

Several large investors have recently modified their holdings of GLU. Kestra Advisory Services LLC acquired a new stake in The Gabelli Global Utility & Income Trust during the fourth quarter worth approximately $43,000. Fifth Third Bancorp acquired a new stake in shares of The Gabelli Global Utility & Income Trust during the 1st quarter worth approximately $44,000. International Assets Investment Management LLC acquired a new stake in shares of The Gabelli Global Utility & Income Trust during the 4th quarter worth approximately $53,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of The Gabelli Global Utility & Income Trust in the 4th quarter valued at $56,000. Finally, Cornerstone Advisors LLC lifted its position in shares of The Gabelli Global Utility & Income Trust by 313.5% during the 3rd quarter. Cornerstone Advisors LLC now owns 8,684 shares of the company’s stock valued at $157,000 after acquiring an additional 6,584 shares during the period.

The Gabelli Global Utility & Income Trust Company Profile

The Gabelli Global Utility & Income Trust (NYSE American: GLU) is a closed-end management investment company that seeks to provide shareholders with current dividend income and capital appreciation. The trust primarily invests in equity and debt securities of utility and utility-related companies around the world. Its portfolio includes common stocks, preferred shares and corporate bonds issued by firms engaged in electric, gas, water and telecommunications services, as well as infrastructure businesses that support these industries.

GLU’s investment approach emphasizes established, dividend-paying companies with the potential for steady earnings and cash flow.