The Gabelli Utility Trust (GUT-PC) is registering $300 million for possible offerings of common shares, preferred shares, subscription rights to purchase either class, and notes. It may offer securities from time to time, with prices and terms set in prospectus supplements. Sales cannot occur until the registration statement is effective; sales through agents, underwriters or dealers require a supplement.
The Trust expects to initially invest proceeds in high-quality short-term debt securities while identifying portfolio opportunities. Investment is expected to be substantially completed within three months, but market conditions could extend the period to six months. Proceeds may also be used to call existing preferred shares.
The adviser’s fee is 1.00% annually of average weekly net assets; leverage may increase the fee and risk borne by common shareholders. On October 1, 2026, common shares’ last reported sale price was $5.70 and NAV was $2.75; the Trust stated the shares traded at a 108% premium to NAV. Its policy pays $0.05 per common share monthly, with an adjusting December distribution if needed. For 2025, distributions totaled $0.60 per common share, of which approximately $0.54 was deemed return of capital.