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

The Gabelli Utility Trust (NYSE:GUT) declared a monthly dividend on Wednesday, August 12th. Shareholders 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 $0.60 annualized dividend and a yield of 10.4%. The ex-dividend date is Friday, October 16th.

The Gabelli Utility Trust Stock Performance

NYSE GUT opened at $5.78 on Wednesday. The Gabelli Utility Trust has a fifty-two week low of $5.42 and a fifty-two week high of $7.07. The stock’s 50-day moving average is $6.22 and its two-hundred day moving average is $6.28.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Turner Financial Group Inc. bought a new stake in The Gabelli Utility Trust during the second quarter worth approximately $74,000. Elevation Point Wealth Partners LLC acquired a new position in The Gabelli Utility Trust during the second quarter valued at approximately $89,000. Silver Oak Securities Incorporated grew its holdings in The Gabelli Utility Trust by 28.0% during the first quarter. Silver Oak Securities Incorporated now owns 20,546 shares of the investment management company’s stock valued at $124,000 after purchasing an additional 4,498 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of The Gabelli Utility Trust by 8.9% in the second quarter. Dynamic Advisor Solutions LLC now owns 21,111 shares of the investment management company’s stock valued at $139,000 after purchasing an additional 1,729 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of The Gabelli Utility Trust in the second quarter valued at approximately $169,000.

The Gabelli Utility Trust Company Profile

The Gabelli Utility Trust is a closed-end investment company listed on the New York Stock Exchange under the symbol GUT. The trust seeks to provide investors with income and long-term total return through a combination of dividend income and capital appreciation.

The fund invests primarily in companies involved in the utility and related infrastructure industries. Its portfolio may include electric, gas, water, telecommunications, wireless communications, cable, and other businesses that provide essential services or operate utility-related assets.