Gabelli Utility Trust

Gabelli Utility Trust is a closed-end diversified investment management company, which seeks long term growth of capital and income. It invests in companies that provide products, services, or equipment for the generation of electricity, gas, and water. The company was founded on July 9, 1999 and is headquartered in Rye, NY.

BlackRock Utilities Infrastructure & Power Opportunities Trust

Duff & Phelps Global Utility Income Fund Inc

Vanilla investors are freaking out that Jerome Powell & Co. won't cut rates right away.

3 Utility CEFs Paying Electric Yields Up To 11%

GAMCO Investors Inc

RYE, N.Y., Feb. 14, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of The Gabelli Utility Trust (NYSE:GUT) (the “Fund”) approved the continuation of its policy of paying fixed monthly cash distributions. The Board of Trustees declared cash distributions of $0.05 per share for each of April, May, and June 2024.

Gabelli Utility Trust Continues Monthly Distributions, Declares Distributions of $0.05 Per Share

Gabelli Utility Trust trades at an 87% premium to net asset value, despite lagging behind the Vanguard Utilities Index Fund ETF Shares. The GUT closed-end fund's high premium is attributed to its attractive distribution yield of 11.47% and the option for shareholders to exit through rights offerings. Shorting GUT and going long on VPU is risky due to high borrowing fees, but the premium to net asset value is declining.

Gabelli Utility Trust Is Overpriced At An 87% Premium To NAV But Hard To Short

The utilities sector faced a tough year in 2023, contrary to its usual defensive nature during economic downturns. GUT displays an extremely high premium to its net asset value (NAV), currently at 109.3%. This high premium remains despite changes in the utilities sector and interest rate landscape. Rising treasury yields offer returns above 5%, making investments in utilities or high-premium CEFs like GUT less appealing compared to alternative options.

GUT: The Premium That Refuses To Die

BlackRock Energy and Resources Trust

Blackrock Long-Term Municipal Advantage Trust

ClearBridge Energy MLP Fund Inc

ClearBridge Energy MLP Total Return Fund Inc

Herzfeld Caribbean Basin Fund Inc

Dreyfus Municipal Bond Infrastructure Fund

ClearBridge Energy MLP Opportunity Fund Inc

Eaton Vance National Municipal Opportunities Trust

Aberdeen Global Income Fund

Gabelli Multimedia Trust

Nuveen Mortgage Opportunity Term Fund

Barings Corporate Investors

Nuveen California AMT-Free Quality Municipal Income Fund

PIMCO Income Strategy Fund II

Cohen & Steers Quality Income Realty Fund

Cushing MLP & Infrastructure Total Return Fund

Columbia Seligman Premium Technology Growth Func Inc

Tekla World Healthcare Fund

XAI Octagon Floating Rate & Alternative Income Term Trust

19 out of 22 CEF sectors are positive on price, and 21 out of 22 sectors are positive on NAV. KYN/KMF merger completes. NXG Cushing Midstream Energy Fund rights offering begins.

Weekly Closed-End Fund Roundup: November 26, 2023

AllianceBernstein National Municipal Income Fund

BlackRock Health Sciences Trust II

Cornerstone Strategic Value Fund Inc

MFS High Yield Municipal Trust

Cornerstone Total Return Fund Inc

MFS Investment Grade Municipal Trust

Destra Multi-Alternative Fund

DNP Select Income Fund Inc

BlackRock Enhanced Government Fund

Eaton Vance

First Trust Energy Infrastructure Fund

FS Credit Opportunities Corp

Sprott Focus Trust

GDL Fund

Gabelli Dividend & Income Trust

Guggenheim Strategic Opportunities Fund

John Hancock Hedged Equity & Income Fund

Highland Income Fund

Highland Global Credit Allocation Fund.

Closed-End Funds: Revisiting Valuations As We End Q3 2023

GUT has suffered losses of over 25% these past few days. Losses were due to general market weakness and an excessively elevated premium. Premiums remain excessive, however. A look at the fund's premium, and its negatives, follows.

GUT: Down 25%, Still A Strong Sell

Closed-end funds with high distribution rates and elevated premiums may be setting investors up for significant losses. Guggenheim Strategic Opportunities Fund (GOF) and Gabelli Utility Trust (GUT) are sell candidates due to weak distribution coverage and massive near all-time high premiums. We offer some alternatives that are much better valued and offer similar or even higher distribution yields than these time bombs.

2 CEFs To Sell (GOF And GUT) With Better Replacements

RYE, N.Y., Sept. 06, 2023 (GLOBE NEWSWIRE) -- The Board of Trustees of The Gabelli Utility Trust (NYSE: GUT) (the “Fund”) has authorized an exchange offer (the “Offer”) for all of the Fund's outstanding Series B Auction Market Preferred Shares (the “Series B Preferred Shares”).

Gabelli Utility Trust to Commence Exchange Offer For Series B Auction Market Preferred Shares

SPDR S&P 500 ETF Trust

In 2018, we warned about premium valuations in equity CEFs before a correction and bear market occurred. We believe that the current wide discounts in many CEFs are due to institutional shareholders reducing or liquidating their exposure. The presence of ultra high premium valued funds suggests the presence of "dumb money" in CEFs and potentially in the broader markets.

Equity CEFs: Peak Insanity, Version 2023

It's been a rough year for utility stocks and utility focused CEFs as interest rates have moved up making their high dividend yields less attractive. So despite a bull market in just about everything this year, the SPDR Utility ETF (XLU) is actually down -3.5% YTD and -6.6% over the last year. Now utilities can mean a lot more than just generating, storing or transmitting electricity, particularly if you throw in infrastructure stocks like pipelines, natural gas, water, alternative energy, etc.

Equity CEFs: So DPG Cuts, But GUT Won't Have To?

The Gabelli Utility Trust (GUT) fund is trading at a 113% premium to its net asset value (NAV), despite only delivering a 6.7% average annual return over 10 years. The fund is liquidating its NAV to maintain an unsustainable 18.5% distribution yield, making a future distribution cut almost certain. Investors are advised to consider alternative utility-focused closed-end funds, such as the Cohen & Steers Infrastructure Fund, which offers a more sustainable 8.0% distribution yield.

GUT: Pay A Dollar For 50 Cents

AGNC Investment

Oxford Lane Capital

If retirement gets any better than monthly dividend payers then, well, I don't want to know about it.

3 Monthly Dividend Stocks Yielding Up To 19.5%

Bancroft Fund Ltd

Center Coast Brookfield MLP & Energy Infrastructure Fund

Western Asset Mortgage Opportunity Fund

Blackrock ESG Capital Allocation Trust

Eagle Point Credit

Eagle Point Credit Company Inc - 6.6875% NT REDEEM 30/04/2028 USD 25

Eaton Vance Enhanced Equity Income Fund II

First Trust Dynamic Europe Equity Income Fund

Voya Global Advantage and Premium Opportunity Fund

Voya Global Equity Dividend and Premium Opportunity Fund

CBRE Global Real Estate Income Fund

Discounts/premiums are one of the most important metrics for CEFs that can provide opportunities for investors. Closed-end funds often see expanded discounts during volatile years, which we experienced in 2022.

Closed-End Fund: April 2023 Check On Valuation

Pimco Global Stockplus & Income Fund

What could go wrong with a fund near an all-time high 105% market price premium combined with a near all-time low NAV? Shareholders of the Gabelli Utility Trust may think they own a safe utility stock fund offering a very attractive 8.4% current market yield, but that couldn't be further from the truth.

Potentially The Greatest Swap Idea In CEF History: Sell GUT, Buy PGP

Gabelli Utility Trust is an equities closed-end fund. The vehicle has a high premium to NAV and exposure to this defensive asset class.

GUT: Moving From Sell To Hold For This Utilities CEF

BlackRock Science and Technology Trust II

Ellsworth Growth and Income Fund

Stone Harbor Emerging Markets Total Income Fund

Eagle Point Income Company Inc

Gabelli Equity Trust

Gabelli Convertible and Income Securities Fund

Aberdeen Australia Equity Fund Inc

Virtus AllianzGI Convertible & Income Fund

Pimco Municipal Income Fund

Templeton Emerging Markets Income Fund

YieldShares High Income ETF

Three out of 22 CEF sectors positive on price and 5 out of 22 sectors positive on NAV last week. Delaware/Abrdn mergers are closed.

Weekly Closed-End Fund Roundup: March 12, 2023

Aberdeen Income Credit Strategies Fund

Alpine Global Dynamic Dividend Fund

Aberdeen Standard Global Infr Inc Fd

Blackrock Investment Quality Municipal Trust

Delaware Investments Dividend and Income Fund

Delaware Enhanced Global Dividend & Income Fund

Stone Harbor Emerging Markets Income Fund

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

Eaton Vance Tax-Advantaged Bond & Opportunity Stategies Fund

Eagle Capital Growth Fund Inc

Ivy High Income Opportunities Fund

KKR Income Opportunities Fund

Dreyfus Strategic Municipals Inc

Macquarie Global Infrastructure Total Return Fund Inc

Neuberger Berman Intermediate Municipal Fund Inc

Neuberger Berman MLP Income Fund, Inc.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

PIMCO Dynamic Income Opportunities Fund

RENN Fund

1 out of 22 CEF sectors positive on price and 0 out of 22 sectors positive on NAV last week. Senior loans lead while real estate lags.

Weekly Closed-End Fund Roundup:  February 12, 2023

Virtus AllianzGI Diversified Income & Convertible Fund

BlackRock Science & Technology

Calamos Global Total Return Fund

Western Asset Global Corp Defined Opportunity Fund Inc

Nuveen Dynamic Municipal Opportunities Fund

17 out of 22 CEF sectors positive on price and 18 out of 22 sectors positive on NAV last week. RSF offering results.

Weekly Closed-End Fund Roundup: DEX Tender Offering Expires (February 5, 2023)

Gabelli Utility Trust is a closed-end fund focused on utilities. GUT is now trading at an all-time high premium to NAV of 107%.

There Are CEF Premiums To NAV, And Then There Is GUT At 107%

DoubleLine Income Solutions Fund

First Trust / Aberdeen Emerging Opportunity Fund

Cohen & Steers Closed-End Opportunity Fund

Nuveen Core Equity Alpha Fund

Nuveen California Select Tax-Free Income Portfolio

Pimco California Municipal Income Fund II

PCM Fund

PIMCO Corporate & Income Strategy Fund

Pimco California Municipal Income Fund

Pimco Municipal Income Fund II

21 out of 22 CEF sectors were positive on price and 20 out of 22 sectors were positive on NAV last week. MLPs are the most discounted CEF sector.

Weekly Closed-End Fund Roundup: January 8, 2023

BlackRock Resources & Commodities Strategy Trust

Doubleline Opportunistic Credit Fund

Gabelli Healthcare & Wellness Trust

OFS Credit Company Inc

2 out of 23 CEF sectors were positive on price and 2 out of 23 sectors were positive on NAV last week. VFL offers tender results.

Weekly Closed-End Fund Roundup: VFL Tender Results (December 18, 2022)

First Trust Specialty Finance and Financial Opportunities Fund

Clough Global Dividend and Income Fund

Nuveen Massachusetts Quality Municipal Income Fund

Nuveen New York Select Tax-Free Income Portfolio

Putnam Municipal Opportunities Trust

Pimco California Municipal Income Fund III

Nuveen NASDAQ 100 Dynamic Overwrite Fund

RiverNorth Opportunities Fund, Inc.

Cohen & Steers Real Estate Opportunities and Income Fund

Cohen & Steers Reit And Preferred Income Fund Inc

TCW Strategic Income Fund

Delaware Investments

22 out of 23 CEF sectors positive on price and 22 out of 23 sectors positive on NAV last week. All sectors were positive last week.

Weekly Closed-End Fund Roundup: Special Distributions Coming Up (December 4, 2022)

Blackrock Health Sciences Trust

Eaton Vance Enhanced Equity Income Fund

John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund

New American High Income Fund

BlackRock Corporate High Yield Fund

John Hancock Investors Trust

Virtus AllianzGI Convertible & Income Fund II

Tortoise Energy Independence Fund, Inc.

Nuveen Missouri Quality Municipal Income Fund

Tortoise MLP Fund

Tortoise Power and Energy Infrastructure Fund

Tortoise Pipeline & Energy Fund

Tortoise Energy Infrastructure

Virtus Total Return Fund

12 out of 23 CEF sectors positive on price and 6 out of 23 sectors positive on NAV last week. Tortoise offer tender results.

Weekly Closed-End Fund Roundup: Tortoise Tender Results, NCZ Resumes Distributions (November 6, 2022)

AllianceBernstein Global High Income Fund Inc

Angel Oak Financial Strategies Income Term Trust

SPDR Bloomberg High Yield Bond ETF

We review CEF market valuation and performance through the first week of October and highlight recent market action. The CEF space was up on the week, led by higher-beta sectors.

CEF Weekly Review: Be Careful When Evaluating Long-Term Performance

News for Gabelli Utility Trust ETF (GUT)