The Gabelli Utility Trust (NYSE:GUT) Share Price Passes Above 50-Day Moving Average – What’s Next?

Shares of The Gabelli Utility Trust (NYSE:GUT) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $6.05 and traded as high as $6.12. The Gabelli Utility Trust shares last traded at $6.0750, with a volume of 219,545 shares changing hands.

The Gabelli Utility Trust Trading Down 0.7%

The company has a fifty day moving average of $6.05 and a 200-day moving average of $6.03.

The Gabelli Utility Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, March 17th. This represents a c) annualized dividend and a dividend yield of 9.9%.

Institutional Investors Weigh In On The Gabelli Utility Trust

A number of institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of The Gabelli Utility Trust by 7.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 66,288 shares of the investment management company’s stock worth $390,000 after buying an additional 4,715 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of The Gabelli Utility Trust by 4.3% during the second quarter. Janney Montgomery Scott LLC now owns 138,593 shares of the investment management company’s stock valued at $804,000 after acquiring an additional 5,770 shares during the last quarter. Trust Co. of Vermont bought a new stake in The Gabelli Utility Trust during the second quarter worth $85,000. MAS Advisors LLC boosted its position in The Gabelli Utility Trust by 3.4% in the second quarter. MAS Advisors LLC now owns 67,591 shares of the investment management company’s stock worth $392,000 after purchasing an additional 2,248 shares during the last quarter. Finally, Elite Wealth Management Inc. bought a new position in The Gabelli Utility Trust in the 2nd quarter valued at $331,000.

About The Gabelli Utility Trust

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.