The Gabelli Utility Trust (NYSE:GUT) Share Price Passes Above 50-Day Moving Average – Here’s Why

The Gabelli Utility Trust (NYSE:GUT) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $6.01 and traded as high as $6.10. The Gabelli Utility Trust shares last traded at $6.07, with a volume of 75,108 shares traded.

The Gabelli Utility Trust Price Performance

The stock has a fifty day simple moving average of $6.02 and a two-hundred day simple moving average of $5.98.

The Gabelli Utility Trust Announces Dividend

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

Institutional Investors Weigh In On The Gabelli Utility Trust

Institutional investors have recently made changes to their positions in the stock. Good Life Advisors LLC lifted its stake in shares of The Gabelli Utility Trust by 9.9% in the second quarter. Good Life Advisors LLC now owns 20,983 shares of the investment management company’s stock valued at $122,000 after purchasing an additional 1,886 shares during the period. PFG Investments LLC lifted its position in shares of The Gabelli Utility Trust by 19.5% during the 3rd quarter. PFG Investments LLC now owns 12,412 shares of the investment management company’s stock valued at $75,000 after acquiring an additional 2,027 shares during the period. Raymond James Financial Inc. lifted its position in shares of The Gabelli Utility Trust by 2.0% during the 2nd quarter. Raymond James Financial Inc. now owns 103,729 shares of the investment management company’s stock valued at $602,000 after acquiring an additional 2,042 shares during the period. MAS Advisors LLC boosted its stake in shares of The Gabelli Utility Trust by 3.4% during the 2nd quarter. MAS Advisors LLC now owns 67,591 shares of the investment management company’s stock worth $392,000 after acquiring an additional 2,248 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of The Gabelli Utility Trust by 3.1% in the 2nd quarter. International Assets Investment Management LLC now owns 94,631 shares of the investment management company’s stock worth $549,000 after acquiring an additional 2,819 shares during the period.

About The Gabelli Utility Trust

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.