The Gabelli Utility Trust (NYSE:GUT – Get Free Report) declared a monthly dividend on Wednesday, November 11th. Stockholders of record on Thursday, January 14th will be paid a dividend of $0.05 per share by the investment management company on Friday, January 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.2%. The ex-dividend date is Thursday, January 14th.
The Gabelli Utility Trust Stock Performance
Shares of The Gabelli Utility Trust stock opened at $5.33 on Thursday. The Gabelli Utility Trust has a 1 year low of $5.03 and a 1 year high of $7.07. The business has a 50 day moving average price of $5.79 and a 200 day moving average price of $6.14.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Baird Financial Group Inc. grew 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 acquiring an additional 188,235 shares in the last quarter. CoreCap Advisors LLC raised its stake in shares of The Gabelli Utility Trust by 54.7% in the 3rd quarter. CoreCap Advisors LLC now owns 252,884 shares of the investment management company’s stock valued at $1,439,000 after purchasing an additional 89,400 shares in the last quarter. Turner Financial Group Inc. bought a new position in The Gabelli Utility Trust during the 2nd quarter worth approximately $74,000. Sequoia Financial Advisors LLC bought a new position in The Gabelli Utility Trust during the second quarter worth $177,000. Finally, Bank of America Corp DE acquired a new position in shares of The Gabelli Utility Trust in the 2nd quarter valued at about $169,000.
The Gabelli Utility Trust Company Profile
The Gabelli Utility Trust (NYSE: GUT) is a diversified closed-end management investment company that seeks to provide investors with a high level of current income and long-term capital appreciation. The trust invests primarily in equity securities of companies involved in the production, transmission, distribution and sale of electricity, gas and other utility services. Its investment focus may also include businesses in related industries, such as telecommunications, cable, energy and infrastructure.
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