The Gabelli Utility Trust (NYSE:GUT) Shares Pass Below Two Hundred Day Moving Average – What’s Next?
by Amy Steele · The Cerbat GemThe Gabelli Utility Trust (NYSE:GUT – Get Free Report) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.03 and traded as low as $5.93. The Gabelli Utility Trust shares last traded at $5.98, with a volume of 201,356 shares trading hands.
The Gabelli Utility Trust Trading Up 0.2%
The business’s fifty day moving average is $6.03 and its 200 day moving average is $6.03.
The Gabelli Utility Trust Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Tuesday, June 23rd. Stockholders 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 dividend yield of 10.0%.
Hedge Funds Weigh In On The Gabelli Utility Trust
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Plus Group Wealth Advisors LLC purchased a new stake in The Gabelli Utility Trust during the fourth quarter worth $1,073,000. Osaic Holdings Inc. grew its holdings in The Gabelli Utility Trust by 30.1% in the fourth quarter. Osaic Holdings Inc. now owns 411,891 shares of the investment management company’s stock valued at $2,484,000 after purchasing an additional 95,363 shares during the last quarter. Kovack Advisors Inc. purchased a new position in shares of The Gabelli Utility Trust in the fourth quarter valued at $353,000. Pines Wealth Management LLC purchased a new position in shares of The Gabelli Utility Trust in the third quarter valued at $304,000. Finally, Virtue Capital Management LLC raised its stake in shares of The Gabelli Utility Trust by 92.5% during the 4th quarter. Virtue Capital Management LLC now owns 91,666 shares of the investment management company’s stock worth $555,000 after buying an additional 44,044 shares during 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.