The Gabelli Utility Trust (NYSE:GUT) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

The Gabelli Utility Trust (NYSE:GUT)’s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.44 and traded as high as $6.56. The Gabelli Utility Trust shares last traded at $6.45, with a volume of 356,456 shares traded.

The Gabelli Utility Trust Stock Down 0.6%

The stock has a fifty day moving average of $6.44 and a 200-day moving average of $6.20.

The Gabelli Utility Trust Announces Dividend

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

Hedge Funds Weigh In On The Gabelli Utility Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Plus Group Wealth Advisors LLC purchased a new position in The Gabelli Utility Trust in the fourth quarter worth approximately $1,073,000. Arlington Capital Management Inc. purchased a new stake in shares of The Gabelli Utility Trust in the 1st quarter valued at approximately $890,000. Cetera Investment Advisers increased its position in shares of The Gabelli Utility Trust by 16.2% in the 1st quarter. Cetera Investment Advisers now owns 176,621 shares of the investment management company’s stock valued at $1,069,000 after purchasing an additional 24,591 shares during the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of The Gabelli Utility Trust by 8.9% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 21,111 shares of the investment management company’s stock valued at $139,000 after purchasing an additional 1,729 shares in the last quarter. Finally, CoreCap Advisors LLC raised its holdings in shares of The Gabelli Utility Trust by 63.8% in the 2nd quarter. CoreCap Advisors LLC now owns 163,484 shares of the investment management company’s stock valued at $1,077,000 after purchasing an additional 63,693 shares in the last quarter.

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.