The Gabelli Global Utility & Income Trust
GLU
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- The Gabelli Global Utility & Income Trust (NYSE American: GLU) is a diversified, closed-end management investment company that seeks a consistent level of after-tax total return for investors, with an emphasis on tax-advantaged dividend income under current tax law. Under normal market conditions, the Fund invests at least 80% of its assets in equity securities and income-producing securities, including government and corporate bonds, of domestic and foreign companies involved in the utilities industry—such as those providing products, services, or equipment for the generation or distribution of electricity, gas, water, and infrastructure operations—and in other industries expected to pay periodic dividends; key portfolio sectors include energy and utilities (integrated), telecommunications, financial services, food and beverage, and natural gas integrated, with top holdings such as National Fuel Gas Co., Sony Group Corp., AZZ Inc., American Electric Power Co. Inc., and Iberdrola SA. The Fund, managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc., employs leverage through its 3.80% Series A Cumulative Puttable & Callable Preferred Shares (GLU PrA) and 5.20% Series B Cumulative Puttable & Callable Preferred Shares (GLU PrB); it trades on the NYSE American with total net assets of approximately $122-124 million, a net asset value per share around $16, and a gross expense ratio of 1.4% (net 1.1%). Founded on May 28, 2004, and headquartered at One Corporate Center, Rye, New York, the Fund pursues global operations with no limitations on foreign securities exposure, targeting companies positioned to benefit from surging energy demand driven by technology and artificial intelligence advancements. Portfolio management is led by Mario J. Gabelli, CFA, Chairman and Chief Executive Officer of GAMCO Investors, Inc., along with Hendi Susanto and Timothy M. Winter, CFA, supported by a team of over 30 sector-focused analysts. In a significant recent development, the Board of Trustees increased the Fund's annual distribution by 10% to $1.32 per share—payable monthly at $0.11 per share beginning January 2026—citing a 31% year-to-date net asset value total return as of November 2025; the Board declared distributions for January, February, and March 2026 and affirmed its policy of quarterly reviews, with potential adjusting December distributions to meet regulated investment company requirements under the Internal Revenue Code. Based on current accounting, 2025 distributions are estimated to comprise approximately 35% net investment income, 50% net capital gains, and 15% return of capital.