Insider Selling: The Gabelli Global Utility & Income Trust (NYSE:GLU) Insider Sells $215,460.00 in 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 on Friday, November 29th. The stock was sold at an average price of $50.40, for a total value of $215,460.00. Following the transaction, the insider now owns 71,725 shares in the company, valued at $3,614,940. This trade represents a 5.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

The Gabelli Global Utility & Income Trust Stock Up 1.6 %

Shares of NYSE GLU opened at $16.63 on Thursday. The Gabelli Global Utility & Income Trust has a 1-year low of $12.91 and a 1-year high of $17.44. The business’s fifty day moving average price is $16.33 and its two-hundred day moving average price is $15.28.

The Gabelli Global Utility & Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be given a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 7.21%. The ex-dividend date is Monday, March 17th.

Institutional Investors Weigh In On The Gabelli Global Utility & Income Trust

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its position in The Gabelli Global Utility & Income Trust by 1,548.5% in the third quarter. International Assets Investment Management LLC now owns 43,685 shares of the company’s stock worth $720,000 after buying an additional 41,035 shares during the period. Private Advisor Group LLC increased its holdings in shares of The Gabelli Global Utility & Income Trust by 14.4% during the third quarter. Private Advisor Group LLC now owns 44,929 shares of the company’s stock valued at $741,000 after purchasing an additional 5,641 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings 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 valued at $186,000 after purchasing an additional 994 shares during the period. Shaker Financial Services LLC acquired a new position in shares of The Gabelli Global Utility & Income Trust during the second quarter valued at $326,000. Finally, Comerica Bank increased its holdings in shares of The Gabelli Global Utility & Income Trust by 63.6% during the first quarter. Comerica Bank now owns 2,199 shares of the company’s stock valued at $32,000 after purchasing an additional 855 shares during the period.

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.