Insider Selling: The Gabelli Global Utility & Income Trust (NYSE:GLU) Insider Sells 4,275 Shares of Stock

The Gabelli Global Utility & Income Trust (NYSE:GLU) insider Mario J. Gabelli sold 4,275 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $50.40, for a total value of $215,460.00. Following the sale, the insider now owns 71,725 shares of the company’s stock, valued at $3,614,940. This represents a 5.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

The Gabelli Global Utility & Income Trust Price Performance

Shares of GLU opened at $16.37 on Wednesday. The Gabelli Global Utility & Income Trust has a one year low of $12.91 and a one year high of $17.44. The stock has a 50-day moving average price of $16.33 and a 200 day moving average price of $15.26.

The Gabelli Global Utility & Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.33%. The ex-dividend date is Monday, March 17th.

Institutional Trading of The Gabelli Global Utility & Income Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank boosted its stake in The Gabelli Global Utility & Income Trust by 63.6% during the 1st quarter. Comerica Bank now owns 2,199 shares of the company’s stock valued at $32,000 after acquiring an additional 855 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of The Gabelli Global Utility & Income Trust in the 2nd quarter valued at about $37,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of The Gabelli Global Utility & Income Trust by 8.0% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 13,444 shares of the company’s stock worth $186,000 after purchasing an additional 994 shares during the last quarter. Shaker Financial Services LLC bought a new position in shares of The Gabelli Global Utility & Income Trust during the second quarter worth about $326,000. Finally, Private Advisor Group LLC increased its holdings in The Gabelli Global Utility & Income Trust by 14.4% in the third quarter. Private Advisor Group LLC now owns 44,929 shares of the company’s stock valued at $741,000 after buying an additional 5,641 shares during the last quarter.

About The Gabelli Global Utility & Income Trust

The Gabelli Global Utility & Income Trust is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in public equity markets across the globe. It primarily invests in stocks of companies involved to a substantial extent in providing products, services, or equipment for the generation or distribution of electricity, gas, or water and infrastructure operations, and in equity securities including preferred securities of companies in other industries, in each case in such securities that are expected to pay periodic dividends.