The Gabelli Utility Trust (NYSE:GUT) Shares Pass Above 50-Day Moving Average – Here’s What Happened

The Gabelli Utility Trust (NYSE:GUT)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty 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 changing hands.

The Gabelli Utility Trust Stock Performance

The business’s 50-day moving average price is $6.08 and its 200 day moving average price is $6.03.

The Gabelli Utility Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Monday, June 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 9.8%.

Institutional Trading of The Gabelli Utility Trust

Large investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in shares of The Gabelli Utility Trust in the second quarter worth about $60,000. Ameriprise Financial Inc. acquired a new stake in The Gabelli Utility Trust during the 3rd quarter valued at approximately $70,000. Composition Wealth LLC acquired a new stake in The Gabelli Utility Trust during the 4th quarter valued at approximately $72,000. PFG Investments LLC increased its holdings in The Gabelli Utility Trust by 19.5% during the 3rd quarter. PFG Investments LLC now owns 12,412 shares of the investment management company’s stock worth $75,000 after purchasing an additional 2,027 shares during the last quarter. Finally, Integrity Advisory Solutions LLC purchased a new stake in The Gabelli Utility Trust during the 3rd quarter worth approximately $80,000.

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.