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

The Gabelli Global Utility & Income Trust (NYSEAMERICAN:GLU) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 5,500 shares, a growth of 223.5% from the December 15th total of 1,700 shares. Based on an average trading volume of 8,300 shares, the days-to-cover ratio is currently 0.7 days.

NYSEAMERICAN:GLU traded up $0.41 during trading hours on Friday, reaching $21.69. The company had a trading volume of 788 shares, compared to its average volume of 5,343. The Gabelli Global Utility & Income Trust has a 1-year low of $18.38 and a 1-year high of $24.05.

The firm also recently announced a monthly dividend, which will be paid on Thursday, March 24th. Stockholders of record on Thursday, March 17th will be paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.53%. The ex-dividend date of this dividend is Wednesday, March 16th.

Several hedge funds have recently made changes to their positions in the company. Morgan Stanley raised its stake in shares of The Gabelli Global Utility & Income Trust by 0.5% during the 2nd quarter. Morgan Stanley now owns 153,510 shares of the company’s stock worth $3,208,000 after buying an additional 736 shares during the period. Royal Bank of Canada raised its stake in shares of The Gabelli Global Utility & Income Trust by 106.0% during the 2nd quarter. Royal Bank of Canada now owns 6,378 shares of the company’s stock worth $134,000 after buying an additional 3,282 shares during the period. Wolverine Asset Management LLC acquired a new position in The Gabelli Global Utility & Income Trust in the 3rd quarter valued at $165,000. LPL Financial LLC raised its stake in The Gabelli Global Utility & Income Trust by 45.5% in the 2nd quarter. LPL Financial LLC now owns 28,693 shares of the company’s stock valued at $600,000 after purchasing an additional 8,969 shares during the last quarter. Finally, Sit Investment Associates Inc. acquired a new position in The Gabelli Global Utility & Income Trust in the 2nd quarter valued at $240,000.

The Gabelli Global Utility & Income Trust Company Profile

Gabelli Global Utility & Income Trust is a non-diversified closed-end management investment company. Its investment objective is to seek consistent level of after-tax total return for its investors with an emphasis on qualified dividends by investing its assets in equity securities and income producing securities of domestic and foreign companies involved in the utilities industry and other industries that are expected to pay dividends periodically.

See Also: G-20

Receive News & Ratings for The Gabelli Global Utility & Income Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Gabelli Global Utility & Income Trust and related companies with MarketBeat.com's FREE daily email newsletter.