The Gabelli Utility Trust (NYSE:GUT) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Shares of The Gabelli Utility Trust (NYSE:GUT) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.03 and traded as high as $6.08. The Gabelli Utility Trust shares last traded at $6.0360, with a volume of 180,710 shares.

The Gabelli Utility Trust Trading Up 0.1%

The stock’s 50-day moving average is $6.03 and its two-hundred day moving average is $5.99.

The Gabelli Utility Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a c) annualized dividend and a dividend yield of 9.9%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Integrity Alliance LLC. purchased a new stake in shares of The Gabelli Utility Trust during the 1st quarter valued at about $239,000. Balefire LLC grew its position in The Gabelli Utility Trust by 13.6% during the second quarter. Balefire LLC now owns 67,574 shares of the investment management company’s stock valued at $392,000 after buying an additional 8,101 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in The Gabelli Utility Trust by 7.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 66,288 shares of the investment management company’s stock valued at $390,000 after buying an additional 4,715 shares during the last quarter. Register Financial Advisors LLC bought a new position in The Gabelli Utility Trust in the second quarter worth approximately $102,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of The Gabelli Utility Trust by 4.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 138,593 shares of the investment management company’s stock worth $804,000 after acquiring an additional 5,770 shares during the last quarter.

The Gabelli Utility Trust Company Profile

The Gabelli Utility Trust (NYSE:GUT) is a closed-end management investment company that focuses on equity investments in the utilities sector. Established in 1989, the trust seeks to provide shareholders with a combination of monthly income and long-term capital appreciation by investing primarily in the common stocks of companies that own or operate regulated utility assets.

The trust’s portfolio typically includes holdings in electric, natural gas, water and pipeline transportation companies, with an emphasis on businesses that generate stable cash flows through regulated rate structures.