Motco Decreases Position in The Gabelli Utility Trust (NYSE:GUT)

Motco decreased its stake in The Gabelli Utility Trust (NYSE:GUT) by 50.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,277 shares of the investment management company’s stock after selling 7,280 shares during the quarter. Motco’s holdings in The Gabelli Utility Trust were worth $37,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GUT. Kingswood Wealth Advisors LLC purchased a new stake in shares of The Gabelli Utility Trust in the fourth quarter worth about $62,000. Sonora Investment Management Group LLC boosted its holdings in The Gabelli Utility Trust by 20.0% in the fourth quarter. Sonora Investment Management Group LLC now owns 14,419 shares of the investment management company’s stock valued at $73,000 after purchasing an additional 2,404 shares during the last quarter. Pure Financial Advisors LLC purchased a new position in The Gabelli Utility Trust in the third quarter valued at about $78,000. J.W. Cole Advisors Inc. purchased a new position in The Gabelli Utility Trust in the fourth quarter valued at about $92,000. Finally, Private Advisor Group LLC boosted its holdings in The Gabelli Utility Trust by 50.6% in the fourth quarter. Private Advisor Group LLC now owns 21,086 shares of the investment management company’s stock valued at $106,000 after purchasing an additional 7,087 shares during the last quarter.

The Gabelli Utility Trust Price Performance

Shares of GUT opened at $5.36 on Friday. The Gabelli Utility Trust has a one year low of $4.97 and a one year high of $6.25. The stock has a 50-day moving average price of $5.36 and a 200 day moving average price of $5.39.

The Gabelli Utility Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 13th will be issued a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 11.19%. The ex-dividend date of this dividend is Friday, June 13th.

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.