The Gabelli Utility Trust Plans Monthly Dividend of $0.05 (NYSE:GUT)

The Gabelli Utility Trust (NYSE:GUT – Get Rating) declared a monthly dividend on Wednesday, May 24th, Wall Street Journal reports. Stockholders of record on Thursday, August 17th will be paid a dividend of 0.05 per share by the investment management company on Thursday, August 24th. This represents a $0.60 annualized dividend and a dividend yield of 8.89%. The ex-dividend date of this dividend is Wednesday, August 16th.

The Gabelli Utility Trust Price Performance

Shares of GUT traded down $0.09 during mid-day trading on Wednesday, hitting $6.75. 198,852 shares of the company’s stock were exchanged, compared to its average volume of 131,285. The Gabelli Utility Trust has a 52 week low of $6.41 and a 52 week high of $8.05. The company has a 50-day simple moving average of $7.02 and a 200 day simple moving average of $7.18.

Hedge Funds Weigh In On The Gabelli Utility Trust

Hedge funds have recently made changes to their positions in the business. Sunbelt Securities Inc. bought a new position in shares of The Gabelli Utility Trust during the 1st quarter worth approximately $32,000. MAS Advisors LLC bought a new position in The Gabelli Utility Trust during the first quarter worth $78,000. Captrust Financial Advisors boosted its position in The Gabelli Utility Trust by 5,457.2% during the third quarter. Captrust Financial Advisors now owns 16,894 shares of the investment management company’s stock worth $117,000 after purchasing an additional 16,590 shares during the period. Susquehanna International Group LLP bought a new position in The Gabelli Utility Trust during the first quarter worth $117,000. Finally, Private Advisor Group LLC bought a new position in The Gabelli Utility Trust during the first quarter worth $119,000.

About The Gabelli Utility Trust

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The Gabelli Utility Trust is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in the public equity markets across the globe. It makes its investments in stocks of companies providing products, services, or equipment for the generation or distribution of electricity, gas, water, telecommunications services, and infrastructure operations.