Form 4: Mario J. Gabelli Reports Sale of Gabelli Global Utility & Income Trust Shares

Mario J. Gabelli, a director and control person of the adviser for Gabelli Global Utility & Income Trust, sold 1,725 Series B preferred shares on December 2, 2024.

Summary

• Mario J. Gabelli, a director and control person of the adviser for Gabelli Global Utility & Income Trust, reported a sale of 1,725 Series B Cumulative Puttable and Callable Preferred Shares.
• The transaction occurred on December 2, 2024, at a price of $50.4 per share.
• Following the transaction, Mr. Gabelli indirectly beneficially owns 70,000 shares through Associated Capital Group, Inc. (ACG).
• Mr. Gabelli is the Executive Chair and controlling shareholder of ACG but disclaims beneficial ownership of the shares held by it which are in excess of his indirect pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a neutral report of an insider transaction. It does not indicate any positive or negative sentiment about the company's performance or future prospects.

Management Comments

• Mr. Gabelli has less than a 100% interest in ACG and disclaims beneficial ownership of the shares held by it which are in excess of his indirect pecuniary interest.

Industry Context

This is a routine disclosure of insider trading activity, which is common for publicly traded companies. It does not indicate any specific trend in the utility and income trust sector.

Comparison to Industry Standards

• Insider trading disclosures are a standard practice for all publicly listed companies, including those in the utility and income trust sector.
• The transaction is relatively small in the context of the total shares outstanding for Gabelli Global Utility & Income Trust.
• Similar disclosures are made by insiders of other comparable companies such as BlackRock Utilities, Infrastructure & Power Opportunities Trust (BUI) and Reaves Utility Income Fund (UTG).

Stakeholder Impact

• The sale of shares by a key insider may cause some minor concern among shareholders, but the transaction is not large enough to have a significant impact.

Key Dates

Keywords

Gabelli Global Utility & Income Trust, Mario J. Gabelli, Series B Preferred Shares, Insider Trading, Beneficial Ownership, Associated Capital Group, GLU.B