The Gabelli Utility Trust (GUT) to Issue Monthly Dividend of $0.05 on October 23rd

The Gabelli Utility Trust (NYSE:GUT) announced a monthly dividend on Wednesday, August 12th. Stockholders of record on Friday, October 16th will be given a dividend of 0.05 per share by the investment management company on Friday, October 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date is Friday, October 16th.

The Gabelli Utility Trust Price Performance

Shares of NYSE:GUT opened at $6.46 on Friday. The business has a 50-day simple moving average of $6.48 and a two-hundred day simple moving average of $6.24. The Gabelli Utility Trust has a fifty-two week low of $5.42 and a fifty-two week high of $7.07.

Institutional Investors Weigh In On The Gabelli Utility Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Plus Group Wealth Advisors LLC bought a new stake in The Gabelli Utility Trust during the fourth quarter valued at about $1,073,000. Arlington Capital Management Inc. purchased a new stake in shares of The Gabelli Utility Trust during the first quarter worth about $890,000. Osaic Holdings Inc. grew its position in shares of The Gabelli Utility Trust by 30.1% during the fourth quarter. Osaic Holdings Inc. now owns 411,891 shares of the investment management company’s stock worth $2,484,000 after purchasing an additional 95,363 shares in the last quarter. CoreCap Advisors LLC raised its stake in The Gabelli Utility Trust by 63.8% during the 2nd quarter. CoreCap Advisors LLC now owns 163,484 shares of the investment management company’s stock valued at $1,077,000 after purchasing an additional 63,693 shares during the period. Finally, Kovack Advisors Inc. bought a new stake in The Gabelli Utility Trust during the 4th quarter valued at approximately $353,000.

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.