Could The Gabelli Utility Trust (GUT) Recover After Forming a Bearish Double Bottom?

July 14, 2018 - By Brian Ramirez

Investors sentiment increased to 3.8 in 2018 Q1. Its up 3.30, from 0.5 in 2017Q4. It is positive, as 3 investors sold The Gabelli Utility Trust shares while 2 reduced holdings. 12 funds opened positions while 7 raised stakes. 3.92 million shares or 185.48% more from 1.37 million shares in 2017Q4 were reported.
Northwestern Mutual Wealth Mgmt Communications, Wisconsin-based fund reported 302 shares. Fifth Third Commercial Bank invested 0% of its portfolio in The Gabelli Utility Trust (NYSE:GUT). 32,619 are held by Lpl Ltd Liability Corp. City stated it has 303 shares. Gamco Invsts Et Al owns 0.01% invested in The Gabelli Utility Trust (NYSE:GUT) for 283,049 shares. Susquehanna International Limited Liability Partnership accumulated 12,736 shares. Sei Invs reported 3,350 shares or 0% of all its holdings. 866 were reported by Deutsche National Bank & Trust Ag. 15,000 are owned by Crestwood Advsr Gru Inc Ltd Liability Corp. Credit Suisse Ag reported 160,650 shares. Rivernorth Cap Management Ltd stated it has 184,979 shares or 0.09% of all its holdings. Hanson Mcclain Inc, California-based fund reported 1,873 shares. The Pennsylvania-based Pnc Gru Inc has invested 0% in The Gabelli Utility Trust (NYSE:GUT). Glenmede Tru Na has invested 0% in The Gabelli Utility Trust (NYSE:GUT). First Allied Advisory Services Inc stated it has 27,995 shares.

The chart of The Gabelli Utility Trust (GUT) shows a double bottom with $5.67 target or 5.00 % below today’s $5.97 share price. The 9 months chart pattern indicates high risk for the $263.61M company. It was reported on Jul, 14 by Finviz.com. If the $5.67 price target is reached, the company will be worth $13.18 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.51% or $0.03 during the last trading session, reaching $5.97. About 140,669 shares traded. The Gabelli Utility Trust (NYSE:GUT) has declined 14.91% since July 14, 2017 and is downtrending. It has underperformed by 27.48% the S&P500.

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