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To: LTBH who wrote (11512)4/11/2012 9:29:46 PM
From: Steve Felix
1 Recommendation   of 21180
 
"Not real good at deciphering financials" / as a friend used to say, I resemble that remark! I'm not much of a numbers cruncher.

Please don't take my last post as personal in any way. I had seen GABUX in passing, but never looked into it before Pauls post. When I did I just didn't get it. Should have let UTG out of my response, as they are apples and oranges.

Being honest, I really don't know what Mr. Gabelli is doing and how he expects to keep it up. Quite possibly I need someone to give me a primer.

He has a lot of "cash".
U.S. GOVERNMENT OBLIGATIONS—20.5%
$537,358,000 U.S. Treasury Bills,
0.000% to 0.070%††,
†† Represents annualized yield at date of purchase.

I've never seen a utility fund fact sheet where I can't find the yield.
According to both Yahoo and Morningstar it is .78%.

He isn't borrowing cheap money to up income:
"The Fund may not borrow money except for (1) short-term credits from banks as may be necessary for the clearance of portfolio transactions, and (2) borrowings from banks for temporary or emergency purposes, including the meeting of redemption requests, which would otherwise require the untimely disposition of its portfolio securities."

He can do repurchase agreements, options on stocks, futures, and indexes, short sales, swaps, etc.
Whatever he does, he needs to make about 14.7% to cover expenses and the distribution.

Maybe he is that good or maybe I just don't understand.

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To: E_K_S who wrote (11513)4/11/2012 9:45:39 PM
From: Steve Felix
   of 21180
 
I own it in my taxable account where the only other ute I have is PPL.

Bought after the Japan blow up at $21.70. The subsequent raise gave me a yoc of 6.9%.
I'm content just to hold it, for now at least.

Just learned something. CEF connect 52 week low is on the close.
UTG traded as low as $19.92 last August.

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To: LTBH who wrote (11512)4/11/2012 11:06:06 PM
From: straight life
   of 21180
 
I looked at GABUX on yahoo! I went to charting, interactive, and called up the maximum, which gave me a chart going back to 2000, when the price was $12... since then there's been a decline to $5.90, so in 12 years it's been cut in half.

Then I looked at the Profile; Expense Ratio 1.40% plus a 12b-1 charge; putting in $10,000 and holding it there for 10 years and you'll pay them $1,713 for the privilege.

Maybe that works for you. Just saying what I saw, is all. That's what we do on these boards, throwing around ideas, working them out.

I enjoyed the exercise; thanks for bring it to my attention.



By the way, I then hit View Top Utility Funds. The top performer for 1,3 and 5 years is GASFX.

Better chart, half the cost (.71 expense ratio, plus no 12b-1 charge)... but a much smaller dividend, yield of 2.48%

if you do a Compare on the interactive chart, GASFX is up 40% and GABUX is down 50% since 2000

On a one year, GABUX is down 10%, while GASFX is up 10%

throw in the dividends and it's GABUX is up 4% versus GASFX is up 12.48%

(that's before factoring in the fact that Gabelli charges you more than twice as much, adding in the additional 12b-1, which is where you get charged for them publicizing their fund, which never really sat that well with me).

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To: E_K_S who wrote (11513)4/12/2012 6:52:53 AM
From: bruwin
   of 21180
 
"Hard for me to pay a 6.3% premium for a CEF Fund when I can construct a basket of shares myself. I also get to pay a 1.93% annual fee (that's each and every year regardless of how the fund performs!) to boot."

I would absolutely agree with you E_K_S.

If, as an example, you take that 10 stock "Buffett Portfolio" that I report on in my Board, one would now have a Capital Gain of about 15% after 6 months. And, in addition, most of those companies also pay a dividend.

Sergio H's 10 stock list would have gained about 24% over the same time period.

If one had combined the two then the 20 stock list would have gained one about 19%, excluding dividends.

I wonder how many managed funds would have given one those results after 6 months, AFTER deduction of fund expenses etc.. ?

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To: E_K_S who wrote (11513)4/12/2012 6:56:16 AM
From: MoneyPenny
   of 21180
 

Gabelli Utility Trust:GUT


PRINTABLE VIEW

As of 4/11/2012


Share
PriceNAVPremium/
Discount
Current$8.00$5.3549.53%
52 Wk Avg$7.30$5.4932.78%
52 Wk High$8.22$5.8849.53%
52 Wk Low$6.06$4.7315.84%

Managed Distribution*Yes
Distribution Rate7.50%
Distribution Amount$0.0500
Distribution FrequencyMonthly


5D 1M YTD 1Y 3Y 5Y Interactive Chart
Since Inception




Fund Basics DistributionsPricing HistoryPerformancePortfolio Characteristics


As of
Show Since Inception


Distribution History
Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.
Display History



to



GO

Declared
DatePayable
DateEx
DateDistrib
AmountIncomeLong
GainShort
Gain ROC
3/1/20126/22/20126/13/2012$0.0500000$0.0500
3/1/20125/23/20125/14/2012$0.0500000$0.0500
3/1/20124/23/20124/12/2012$0.0500000$0.0500
11/17/20113/23/20123/14/2012$0.0500000$0.0500
11/17/20112/22/20122/10/2012$0.0500000$0.0500
11/17/20111/24/20121/13/2012$0.0500000$0.0500
8/18/201112/16/201112/9/2011$0.0500000$0.0500
8/18/201111/22/201111/10/2011$0.0500$0.050000
8/18/201110/24/201110/13/2011$0.0500$0.050000
5/26/20119/23/20119/14/2011$0.0500$0.050000
5/26/20118/24/20118/15/2011$0.0500$0.050000
5/26/20117/22/20117/13/2011$0.0500$0.050000


Key Information Regarding Distributions
Avg. Earnings Per Share:
(As of 12/31/2011)
$0.0066
Annualized Distribution Rate on NAV:
(As of 4/11/2012)
11.32%
Total Return on NAV (12 months):
(As of 4/11/2012)
7.15%
Avg. UNII Per Share:
(As of 12/31/2011)
-$0.0025
Total % Portfolio Leveraged:
(As of 4/11/2012)
23.27%



Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Past performance is no guarantee of future results.

The risks outlined below do not include all the risks pertaining to an investment in this fund. For more detailed information, please contact the Fund Sponsor.
Investment and Market Risk An investment in the fund's common shares is subject to investment risk, including the possible loss of the entire principal amount that you invest. Your investment in common shares represents an indirect investment in the securities owned by the fund, most of which are traded on a national securities exchange or in the over-the-counter markets. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably. Your common shares at any point in time may be worth less than your original investment, even after considering the reinvestment of fund dividends and distributions. Closed-end funds also carry price risk, or the risk that shares may trade at prices different from their net asset values.

Credit risk The risk that a security in the fund's portfolio will decline in price, or fail to make dividend or interest payments when due, because the security's issuer defaults or experiences a decline in its financial status. Securities falling lower in a company's capital structure and/or unrated securities and securities with lower credit ratings are expected to have higher credit risk. See subordination.

Leverage Risk The fund's use of leverage creates the possibility of higher volatility for the fund's per share NAV, market price, and distributions. Leverage risk can be introduced through structural leverage (issuing preferred shares or debt borrowings at the fund level) or through certain derivative investments held in the fund's portfolio. Leverage typically magnifies the total return of a fund's portfolio, whether that return is positive or negative. The use of leverage creates an opportunity for increased common share net income, but there is no assurance that a fund's leveraging strategy will be successful.

Non-Diversification and Concentration Risk A fund classified as "non-diversified" under the Investment Company Act of 1940 can invest a greater portion of its assets in obligations of a single issuer than a "diversified" fund. The risk is that a non-diversified fund or one with a portfolio concentrated in a particular industry or geographical region may be affected disproportionately by the performance of a single security or relatively few securities as a result of adverse economic, regulatory, or market occurrences.


nOTES
*Certain funds have adopted a 'managed distribution policy.' Regular distributions throughout the year may include realized and unrealized capital gains, along with net investment income, and may from time to time also include a return of capital. It is important to understand the components of a managed distribution and the fund's NAV performance relative to its distribution rate. View more information about Managed Distributions.

1. Annualized total return is determined by subtracting the initial investments from the redeemable value of the investment at the end of the investment period, dividing the remainder by the initial investment and expressing the result as a percentage. For multiple years, 1 would be added to the results, this number could then be raised to the power of 1/years annualized - 1 to find the result of a multiple year annualized return. The calculation assumes that all income and capital gains distributions by the Fund have been reinvested at net asset value (share price) on the ex dates during the period.










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To: MoneyPenny who wrote (11518)4/12/2012 6:57:55 AM
From: MoneyPenny
   of 21180
 
GUT by Gabelli always sells at a huge premium. Go figure. (couldn't comment within the chart) MP

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To: MoneyPenny who wrote (11519)4/12/2012 8:59:34 AM
From: vireya
1 Recommendation   of 21180
 
I was told by a bigtime fd mgr to stay away from anything Gabelli

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To: chowder who wrote (11497)4/12/2012 4:23:28 PM
From: Ditchdigger
   of 21180
 
(Reuters) - Dow Chemical Co raised its quarterly dividend 28 percent, saying it is confident its earnings will continue to rise.

The quarterly payout from the largest U.S. chemical maker by sales will rise to 32 cents from 25 cents.

The dividend will be payable on July 30 to shareholders of record as of June 29.

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To: Ditchdigger who wrote (11521)4/12/2012 5:30:48 PM
From: JimisJim
   of 21180
 
Just read an article about how US and other country chemical companies are all bringing their factories back (or expanding existing) to the US because most can use dirt cheap ng as feed stock and get a 50-1 cost advantage over foreign chem companies using oil. Many of them had moved out and are now moving back. NG may be close to bottom, but for chem companies, all this almost free ng in the US will continue to boost their profits for at least several years and give US chem companies a competitive advantage.

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To: JimisJim who wrote (11522)4/12/2012 6:17:33 PM
From: Ditchdigger
   of 21180
 
Hi Jim, DOW mentioned awhile back the possibility of hedging some of their ng costs for the future. Don't know if they acted on it or were just tossing it out there to gauge reaction. I thought it sounded like a good idea.

ditch

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