The Gabelli Global Utility & Income Trust (NYSEAMERICAN:GLU) Sees Significant Growth in Short Interest

The Gabelli Global Utility & Income Trust (NYSEAMERICAN:GLU) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 2,611 shares, a growth of 115.1% from the April 15th total of 1,214 shares. Based on an average daily trading volume, of 12,038 shares, the short-interest ratio is presently 0.2 days.

The Gabelli Global Utility & Income Trust Trading Down 1.2%

NYSEAMERICAN GLU traded down $0.24 during trading hours on Friday, hitting $19.52. The company’s stock had a trading volume of 9,605 shares, compared to its average volume of 11,272. The stock has a fifty day moving average of $19.68 and a 200 day moving average of $19.53. The Gabelli Global Utility & Income Trust has a twelve month low of $16.46 and a twelve month high of $21.69.

The Gabelli Global Utility & Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a c) annualized dividend and a yield of 6.8%.

Hedge Funds Weigh In On The Gabelli Global Utility & Income Trust

Several hedge funds have recently added to or reduced their stakes in GLU. Advisortrust Partners LLC acquired a new position in The Gabelli Global Utility & Income Trust in the fourth quarter valued at about $790,000. Corient Private Wealth LLC bought a new stake in The Gabelli Global Utility & Income Trust in the fourth quarter valued at approximately $278,000. Cornerstone Advisors LLC increased its stake in The Gabelli Global Utility & Income Trust by 313.5% in the third quarter. Cornerstone Advisors LLC now owns 8,684 shares of the company’s stock valued at $157,000 after purchasing an additional 6,584 shares in the last quarter. Raymond James Financial Inc. increased its stake in The Gabelli Global Utility & Income Trust by 29.4% in the second quarter. Raymond James Financial Inc. now owns 17,668 shares of the company’s stock valued at $306,000 after purchasing an additional 4,015 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in The Gabelli Global Utility & Income Trust by 5.1% in the third quarter. Private Advisor Group LLC now owns 76,419 shares of the company’s stock valued at $1,383,000 after purchasing an additional 3,721 shares in the last quarter.

The Gabelli Global Utility & Income Trust Company Profile

The Gabelli Global Utility & Income Trust (NYSE American: GLU) is a closed-end management investment company that seeks to provide shareholders with current dividend income and capital appreciation. The trust primarily invests in equity and debt securities of utility and utility-related companies around the world. Its portfolio includes common stocks, preferred shares and corporate bonds issued by firms engaged in electric, gas, water and telecommunications services, as well as infrastructure businesses that support these industries.

GLU’s investment approach emphasizes established, dividend-paying companies with the potential for steady earnings and cash flow.