Shaker Financial Services LLC Takes $326,000 Position in The Gabelli Global Utility & Income Trust (NYSE:GLU)

Shaker Financial Services LLC bought a new position in shares of The Gabelli Global Utility & Income Trust (NYSE:GLU) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 23,511 shares of the company’s stock, valued at approximately $326,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Comerica Bank grew its stake in 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 worth $32,000 after buying an additional 855 shares during the period. International Assets Investment Management LLC purchased a new position in The Gabelli Global Utility & Income Trust in the second quarter valued at about $37,000. Hartline Investment Corp acquired a new position in shares of The Gabelli Global Utility & Income Trust during the first quarter worth about $182,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of The Gabelli Global Utility & Income Trust by 8.0% in 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 buying an additional 994 shares during the period. Finally, Private Advisor Group LLC grew its stake in shares of The Gabelli Global Utility & Income Trust by 2.7% in the first quarter. Private Advisor Group LLC now owns 40,044 shares of the company’s stock valued at $584,000 after buying an additional 1,045 shares in the last quarter.

The Gabelli Global Utility & Income Trust Price Performance

The Gabelli Global Utility & Income Trust stock opened at $15.30 on Friday. The Gabelli Global Utility & Income Trust has a one year low of $11.61 and a one year high of $15.69. The stock’s 50 day moving average price is $14.77 and its 200 day moving average price is $14.26.

The Gabelli Global Utility & Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 7.84%. The ex-dividend date of this dividend is Friday, December 13th.

The Gabelli Global Utility & Income Trust Profile

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.