The Gabelli Global Utility & Income Trust (NYSE:GLU) Declares $0.10 Monthly Dividend

The Gabelli Global Utility & Income Trust (NYSE:GLU) announced a monthly dividend on Tuesday, February 18th,Wall Street Journal reports. Stockholders of record on Friday, June 13th will be given a dividend of 0.10 per share on Monday, June 23rd. This represents a $1.20 annualized dividend and a dividend yield of 7.56%. The ex-dividend date of this dividend is Friday, June 13th.

The Gabelli Global Utility & Income Trust has raised its dividend by an average of 2.2% per year over the last three years.

The Gabelli Global Utility & Income Trust Stock Up 0.1 %

Shares of GLU opened at $15.88 on Wednesday. The stock’s fifty day simple moving average is $15.39 and its 200-day simple moving average is $15.74. The Gabelli Global Utility & Income Trust has a 12-month low of $13.06 and a 12-month high of $17.44.

Insiders Place Their Bets

In other news, insider Mario J. Gabelli sold 1,725 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $50.40, for a total value of $86,940.00. Following the transaction, the insider now owns 70,000 shares of the company’s stock, valued at approximately $3,528,000. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

The Gabelli Global Utility & Income Trust Company 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.