Short Interest in The Gabelli Utility Trust (NYSE:GUT) Drops By 8.8%

The Gabelli Utility Trust (NYSE:GUT) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 443,300 shares, a drop of 8.8% from the January 15th total of 486,100 shares. Based on an average daily volume of 285,500 shares, the days-to-cover ratio is presently 1.6 days.

Hedge Funds Weigh In On The Gabelli Utility Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GUT. Nomura Holdings Inc. acquired a new position in The Gabelli Utility Trust during the 4th quarter worth $323,000. Mercer Global Advisors Inc. ADV acquired a new stake in The Gabelli Utility Trust in the fourth quarter worth about $55,000. Stifel Financial Corp grew its position in The Gabelli Utility Trust by 23.7% in the 4th quarter. Stifel Financial Corp now owns 53,212 shares of the investment management company’s stock valued at $268,000 after buying an additional 10,186 shares in the last quarter. Anchor Investment Management LLC acquired a new position in The Gabelli Utility Trust during the 4th quarter valued at about $25,000. Finally, Raymond James Financial Inc. bought a new stake in shares of The Gabelli Utility Trust during the 4th quarter worth about $473,000.

The Gabelli Utility Trust Price Performance

The Gabelli Utility Trust stock opened at $5.35 on Wednesday. The Gabelli Utility Trust has a 52-week low of $4.97 and a 52-week high of $6.25. The firm has a 50-day moving average price of $5.35 and a two-hundred day moving average price of $5.42.

The Gabelli Utility Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 13th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 11.23%.

About The Gabelli Utility Trust

The Gabelli Utility Trust is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in the public equity markets across the globe. It makes its investments in stocks of companies providing products, services, or equipment for the generation or distribution of electricity, gas, water, telecommunications services, and infrastructure operations.