Balboa Wealth Partners Sells 129,033 Shares of The Gabelli Utility Trust (NYSE:GUT)

Balboa Wealth Partners trimmed its stake in shares of The Gabelli Utility Trust (NYSE:GUT) by 50.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,356 shares of the investment management company’s stock after selling 129,033 shares during the quarter. Balboa Wealth Partners’ holdings in The Gabelli Utility Trust were worth $641,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. One Capital Management LLC acquired a new stake in shares of The Gabelli Utility Trust during the 4th quarter worth about $51,000. Kingswood Wealth Advisors LLC acquired a new stake in The Gabelli Utility Trust during the fourth quarter worth approximately $62,000. Sonora Investment Management Group LLC boosted its holdings in shares of The Gabelli Utility Trust by 20.0% during the fourth quarter. Sonora Investment Management Group LLC now owns 14,419 shares of the investment management company’s stock worth $73,000 after acquiring an additional 2,404 shares during the period. J.W. Cole Advisors Inc. bought a new stake in shares of The Gabelli Utility Trust during the fourth quarter worth approximately $92,000. Finally, Private Advisor Group LLC grew its position in shares of 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

NYSE:GUT opened at $5.27 on Thursday. The stock has a 50 day simple moving average of $5.38 and a 200 day simple moving average of $5.33. The Gabelli Utility Trust has a 1-year low of $4.97 and a 1-year high of $6.25.

The Gabelli Utility Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 13th will be issued a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.39%. The ex-dividend date is Friday, June 13th.

The Gabelli Utility Trust 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.