Form 4: Gabelli Decreases Stake in Gabelli Global Utility & Income Trust
Form 4 Filing
Mario J. Gabelli, through Associated Capital Group, Inc., sold 4,275 shares of Gabelli Global Utility & Income Trust's Series B Preferred Shares.
Summary
- Mario J. Gabelli, Executive Chair and controlling shareholder of Associated Capital Group, Inc. (ACG), has decreased his indirect stake in Gabelli Global Utility & Income Trust.
- ACG sold 4,275 Series B Cumulative Puttable and Callable Preferred Shares at a price of $50.4 per share on November 29, 2024.
- Following the transaction, ACG holds 71,725 shares.
- Mr. Gabelli disclaims beneficial ownership of shares held by ACG beyond his indirect pecuniary interest.
Sentiment
Score: 5
Explanation: Neutral. This is a routine Form 4 filing indicating a change in beneficial ownership. Without further context, it's difficult to determine if this sale is a positive or negative signal.
Related Party Transactions
- Mario J. Gabelli is the Executive Chair and controlling shareholder of Associated Capital Group, Inc., which sold the shares.
Key Dates
| Date | Description |
|---|---|
| November 29, 2024 | Transaction date of the sale of 4,275 Series B Preferred Shares. |
| December 2, 2024 | Date the SEC Form 4 was signed by Douglas R. Jamieson, Attorney-in-Fact for Mario J. Gabelli. |
Keywords
Gabelli Global Utility & Income Trust, GLU.B, Associated Capital Group, Mario J. Gabelli, Insider Trading, SEC Form 4, Preferred Shares, Divestiture
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