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

The Gabelli Utility Trust (NYSE:GUT) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $6.52 and traded as high as $6.57. The Gabelli Utility Trust shares last traded at $6.5450, with a volume of 98,693 shares.

The Gabelli Utility Trust Trading Down 1.7%

The firm’s 50-day moving average price is $6.51 and its two-hundred day moving average price is $6.30.

The Gabelli Utility Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 11th will be issued a $0.05 dividend. This represents a c) annualized dividend and a yield of 9.3%. The ex-dividend date is Friday, December 11th.

Institutional Trading of The Gabelli Utility Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in GUT. Sequoia Financial Advisors LLC purchased a new stake in shares of The Gabelli Utility Trust during the 2nd quarter valued at approximately $177,000. Baird Financial Group Inc. raised its position in The Gabelli Utility Trust by 501.2% in the second quarter. Baird Financial Group Inc. now owns 225,794 shares of the investment management company’s stock valued at $1,488,000 after purchasing an additional 188,235 shares during the period. Turner Financial Group Inc. acquired a new position in shares of The Gabelli Utility Trust in the 2nd quarter valued at $74,000. Wedbush Securities Inc. grew its holdings in shares of The Gabelli Utility Trust by 3.7% during the 2nd quarter. Wedbush Securities Inc. now owns 97,586 shares of the investment management company’s stock worth $643,000 after purchasing an additional 3,499 shares during the period. Finally, Kingsview Wealth Management LLC purchased a new position in shares of The Gabelli Utility Trust during the 2nd quarter worth $198,000.

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.