The Gabelli Utility Trust (NYSE: GUT) announced a monthly dividend of $0.05 per share on August 21, 2023. Shareholders on record as of November 13th will receive their dividend payment on November 20th, representing an annualized yield of 9.8%. The ex-dividend date, marking when shares will trade without the value of the upcoming dividend, is also set for November 13th.
Market Performance and Trading Activity
As of Tuesday, the Gabelli Utility Trust traded up by 0.7%, opening at $6.10. Over the past year, the stock has experienced fluctuations, reaching a low of $4.71 and a high of $6.20. The investment company’s 50-day moving average stands at $6.01, while the 200-day moving average is $5.83.
Investors have shown significant interest in the Gabelli Utility Trust, with several institutions adjusting their holdings during the third quarter. For instance, Vestmark Advisory Solutions Inc. acquired a new stake valued at approximately $82,000. Wedbush Securities Inc. increased its position by 18.8%, now holding 47,115 shares valued at $286,000 after purchasing an additional 7,450 shares.
Envestnet Asset Management Inc. also expanded its stake by 54.6%, bringing its total to 63,788 shares worth $387,000 after acquiring 22,523 shares in the last quarter. Pines Wealth Management LLC invested in a new position valued at about $304,000, while PFG Investments LLC raised its holdings by 19.5%, now owning 12,412 shares valued at $75,000.
About Gabelli Utility Trust
The Gabelli Utility Trust is a closed-ended equity mutual fund launched by GAMCO Investors, Inc. and is managed by Gabelli Funds, LLC. The fund focuses on investments in public equity markets worldwide, specifically targeting companies that provide essential products and services for the generation and distribution of electricity, gas, water, telecommunications, and infrastructure operations.
As investors anticipate the upcoming dividend, the Gabelli Utility Trust continues to attract attention in the market, reflecting both its performance and the ongoing interest in utility investments.
