The Gabelli Utility Trust (NYSE:GUT) Share Price Passes Above Fifty Day Moving Average – Here’s Why

The Gabelli Utility Trust (NYSE:GUT) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $6.18 and traded as high as $6.39. The Gabelli Utility Trust shares last traded at $6.3850, with a volume of 316,143 shares.

The Gabelli Utility Trust Stock Performance

The business has a 50 day moving average of $6.18 and a 200-day moving average of $6.09.

The Gabelli Utility Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be paid a dividend of $0.05 per share. This represents a c) dividend on an annualized basis and a yield of 9.4%. The ex-dividend date of this dividend is Wednesday, September 16th.

Hedge Funds Weigh In On The Gabelli Utility Trust

Several hedge funds have recently made changes to their positions in GUT. Jane Street Group LLC bought a new position in shares of The Gabelli Utility Trust during the 2nd quarter worth approximately $60,000. Ameriprise Financial Inc. bought a new position in shares of The Gabelli Utility Trust during the 3rd quarter worth approximately $70,000. Composition Wealth LLC bought a new position in shares of The Gabelli Utility Trust during the 4th quarter worth approximately $72,000. Integrity Advisory Solutions LLC bought a new position in shares of The Gabelli Utility Trust during the 3rd quarter worth approximately $80,000. Finally, Vestmark Advisory Solutions Inc. bought a new position in shares of The Gabelli Utility Trust during the 3rd quarter worth approximately $82,000.

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.