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

The Gabelli Utility Trust (NYSE:GUT)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $6.08 and traded as high as $6.12. The Gabelli Utility Trust shares last traded at $6.10, with a volume of 181,444 shares.

The Gabelli Utility Trust Price Performance

The stock has a 50-day moving average of $6.08 and a 200 day moving average of $6.03.

The Gabelli Utility Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th will be paid a $0.05 dividend. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 9.8%.

Institutional Investors Weigh In On The Gabelli Utility Trust

Hedge funds have recently added to or reduced their stakes in the business. Plus Group Wealth Advisors LLC purchased a new position in The Gabelli Utility Trust during the fourth quarter valued at approximately $1,073,000. Osaic Holdings Inc. boosted its position in The Gabelli Utility Trust by 30.1% in the 4th quarter. Osaic Holdings Inc. now owns 411,891 shares of the investment management company’s stock worth $2,484,000 after purchasing an additional 95,363 shares in the last quarter. Kovack Advisors Inc. acquired a new stake in shares of The Gabelli Utility Trust during the 4th quarter worth approximately $353,000. Pines Wealth Management LLC purchased a new position in shares of The Gabelli Utility Trust during the 3rd quarter valued at approximately $304,000. Finally, Virtue Capital Management LLC lifted its stake in shares of The Gabelli Utility Trust by 92.5% in the 4th quarter. Virtue Capital Management LLC now owns 91,666 shares of the investment management company’s stock valued at $555,000 after purchasing an additional 44,044 shares during the period.

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.