Nations Financial Group Inc. IA ADV Raises Stock Position in The Gabelli Utility Trust (NYSE:GUT)

Nations Financial Group Inc. IA ADV lifted its stake in shares of The Gabelli Utility Trust (NYSE:GUT) by 4.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,932 shares of the investment management company’s stock after buying an additional 2,124 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in The Gabelli Utility Trust were worth $280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Farmers & Merchants Investments Inc. purchased a new stake in shares of The Gabelli Utility Trust during the second quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of The Gabelli Utility Trust by 601.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,867 shares of the investment management company’s stock worth $35,000 after purchasing an additional 5,030 shares during the period. Pure Financial Advisors LLC purchased a new position in shares of The Gabelli Utility Trust in the 3rd quarter worth about $78,000. Brookstone Capital Management lifted its position in The Gabelli Utility Trust by 10.6% during the 2nd quarter. Brookstone Capital Management now owns 33,300 shares of the investment management company’s stock worth $204,000 after acquiring an additional 3,179 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in shares of The Gabelli Utility Trust in the 2nd quarter valued at approximately $262,000.

The Gabelli Utility Trust Stock Performance

Shares of The Gabelli Utility Trust stock opened at $5.17 on Friday. The Gabelli Utility Trust has a fifty-two week low of $4.97 and a fifty-two week high of $6.28. The business has a fifty day simple moving average of $5.22 and a 200-day simple moving average of $5.74.

The Gabelli Utility Trust Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, October 24th. Investors of record on Friday, October 18th were given a dividend of $0.05 per share. This represents a yield of 11.7%. The ex-dividend date of this dividend was Thursday, October 17th.

The Gabelli Utility Trust Company Profile

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.