Kingswood Wealth Advisors LLC Acquires Shares in The Gabelli Utility Trust

Kingswood Wealth Advisors LLC has recently disclosed its acquisition of a new position in shares of The Gabelli Utility Trust (NYSE:GUT) as per its latest filing with the Securities and Exchange Commission. In the fourth quarter, the firm purchased a total of 12,263 shares of this investment management company, with an approximate value of $62,000.

In addition to Kingswood's investment, several other institutional investors have also made changes to their holdings of The Gabelli Utility Trust. Notably, Northwestern Mutual Wealth Management Co. significantly increased its stake in the fund by 601.0% during the second quarter. They now own 5,867 shares valued at $35,000, following an additional purchase of 5,030 shares. Similarly, Pure Financial Advisors LLC established a new position in The Gabelli Utility Trust during the third quarter, valued at about $78,000. Meanwhile, Nations Financial Group Inc. IA ADV raised its stake by 4.1% during the same quarter, bringing its total to 53,932 shares worth around $280,000 after acquiring another 2,124 shares. Also notable is Arlington Capital Management Inc., which bought a new stake during the third quarter valued at around $286,000, and Wolverine Asset Management LLC, which acquired a position worth approximately $378,000.

Gabelli Utility Trust Market Performance

On Monday, shares of The Gabelli Utility Trust opened at $5.48. Over the past year, the stock has reached a low of $4.97 and a high of $6.25. Its fifty-day moving average stands at $5.32, while the 200-day moving average is at $5.47.

Dividend Announcement

Recently, The Gabelli Utility Trust declared a dividend, which was disbursed on January 24th. Shareholders on record as of January 17th received a dividend of $0.05 per share, translating to a yield of 11.03%. The ex-dividend date was set for January 16th.

Overview of The Gabelli Utility Trust

The Gabelli Utility Trust is categorized as a closed-end equity mutual fund. It was launched by GAMCO Investors, Inc. and is managed by Gabelli Funds, LLC. This fund primarily invests in public equity markets worldwide, specifically focusing on stocks of firms engaged in providing products, services, or equipment related to the generation or distribution of utilities like electricity, gas, water, telecommunications services, and relevant infrastructure operations.

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