The Gabelli Utility Trust (NYSE:GUT) Shares Climb 1.9% – Here’s What Happened

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

The Gabelli Utility Trust Stock Performance

The business has a 50-day moving average price of $5.83 and a two-hundred day moving average price of $6.14.

The Gabelli Utility Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 11th will be given a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 11.2%. The ex-dividend date is Friday, December 11th.

Institutional Trading of The Gabelli Utility Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baird Financial Group Inc. grew its position in shares of The Gabelli Utility Trust by 501.2% during the 2nd quarter. Baird Financial Group Inc. now owns 225,794 shares of the investment management company’s stock worth $1,488,000 after buying an additional 188,235 shares during the period. Arlington Capital Management Inc. bought a new stake in shares of The Gabelli Utility Trust in the 1st quarter valued at about $890,000. CoreCap Advisors LLC raised its position in shares of The Gabelli Utility Trust by 54.7% in the 3rd quarter. CoreCap Advisors LLC now owns 252,884 shares of the investment management company’s stock valued at $1,439,000 after acquiring an additional 89,400 shares during the period. Royal Bank of Canada raised its position in shares of The Gabelli Utility Trust by 102.4% in the 1st quarter. Royal Bank of Canada now owns 80,083 shares of the investment management company’s stock valued at $485,000 after acquiring an additional 40,507 shares during the period. Finally, Core Wealth Advisors Inc. acquired a new stake in shares of The Gabelli Utility Trust in the 1st quarter valued at approximately $209,000.

The Gabelli Utility Trust Company Profile

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.