The Gabelli Utility Trust (NYSE:GUT) Plans $0.05 Monthly Dividend

The Gabelli Utility Trust (NYSE:GUT) announced a monthly dividend on Wednesday, November 12th. Investors of record on Tuesday, March 17th will be paid a dividend of 0.05 per share by the investment management company on Tuesday, March 24th. This represents a c) annualized dividend and a dividend yield of 9.9%. The ex-dividend date of this dividend is Tuesday, March 17th.

The Gabelli Utility Trust Stock Performance

Shares of The Gabelli Utility Trust stock traded down $0.10 on Thursday, hitting $6.07. 74,856 shares of the company’s stock traded hands, compared to its average volume of 214,775. The Gabelli Utility Trust has a 52-week low of $4.71 and a 52-week high of $6.20. The firm’s 50-day moving average is $6.01 and its 200 day moving average is $5.84.

Institutional Trading of The Gabelli Utility Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. increased its holdings in shares of The Gabelli Utility Trust by 38.6% in the 2nd quarter. Osaic Holdings Inc. now owns 272,910 shares of the investment management company’s stock valued at $1,583,000 after acquiring an additional 76,065 shares during the last quarter. Mission Wealth Management LP bought a new position in shares of The Gabelli Utility Trust in the 2nd quarter worth about $434,000. Townsquare Capital LLC acquired a new position in shares of The Gabelli Utility Trust in the 1st quarter valued at about $318,000. Elite Wealth Management Inc. bought a new stake in shares of The Gabelli Utility Trust during the 2nd quarter valued at about $331,000. Finally, Pines Wealth Management LLC acquired a new stake in The Gabelli Utility Trust during the third quarter worth about $304,000.

The Gabelli Utility Trust Company Profile

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.