GAMCO Investors Amends 13D/A for Gabelli Global Utility Preferred Shares

TL;DR

**GAMCO just updated its stake in Gabelli Global Utility preferred shares, watch for potential market reaction.**

AI Summary

GAMCO Investors, Inc. filed an amended Schedule 13D/A on January 8, 2024, updating its beneficial ownership of The Gabelli Global Utility & Income Trust's 3.80% Series A and Series B Cumulative Preferred Shares. This amendment, triggered by an event on December 26, 2023, indicates a change in their holdings or reporting status. For investors, this matters because GAMCO is a significant institutional holder, and changes in their position can signal their sentiment about the trust's preferred shares, potentially influencing market perception and liquidity.

Why It Matters

This filing shows an update in a major investor's stake in the preferred shares, which could impact investor confidence and the shares' trading activity.

Risk Assessment

Risk Level: low — This is an amendment to a previous filing, indicating a change in ownership rather than a new, potentially disruptive event.

Analyst Insight

Investors should monitor subsequent 13D/A filings from GAMCO Investors, Inc. for any significant changes in their beneficial ownership percentage, as this could signal a shift in their investment strategy regarding The Gabelli Global Utility & Income Trust's preferred shares.

Key Numbers

• 36242L204 — CUSIP Number (identifies the Series A Preferred Shares)
• 36242L303 — CUSIP Number (identifies the Series B Preferred Shares)
• 13-4007862 — I.D. No. (IRS identification number for GAMCO Investors, Inc.)

Key Players & Entities

• GAMCO Investors, Inc. (company) — the reporting person filing the SC 13D/A
• The Gabelli Global Utility & Income Trust (company) — the issuer of the securities
• David Goldman (person) — authorized to receive notices for GAMCO Investors, Inc.
• 3.80% Series A Cumulative Preferred Shares (security) — one class of securities subject to the filing
• Series B Cumulative Preferred Shares (security) — another class of securities subject to the filing
• December 26, 2023 (date) — date of the event requiring the filing
• January 8, 2024 (date) — date the filing was made

Forward-Looking Statements

• GAMCO Investors, Inc. will continue to be a significant holder of Gabelli Global Utility & Income Trust preferred shares. (GAMCO Investors, Inc.) — high confidence, target: 2025-01-08
• The market reaction to this specific amendment will be minimal, as it's an update rather than a new, major position change. (The Gabelli Global Utility & Income Trust preferred shares) — medium confidence, target: 2024-01-15

FAQ

Filing Documents

• glupref_01.htm (SC 13D/A) — 114KB
• 0000807249-24-000004.txt ( ) — 116KB

Security and Issuer

Item 1. Security and Issuer This Amendment No. 1 to Schedule 13D on the Preferred Shares of The Gabelli Global Utility & Income Trust (3.80% Series A Cumulative Preferred Shares and the Series B Preferred Shares of The Gabelli Global Utility & Income Trust) (the "Issuer") and is being filed on behalf of the undersigned to amend the Schedule 13D, as amended (the "Schedule 13D") which was originally filed on December 31, 2018. Unless otherwise indicated, all capitalized terms used herein but not defined shall have the same meanings as set forth in Schedule 13D.

Identity and Background

Item 2. Identity and Background

to Schedule 13D is amended, in pertinent part, as follows

Item 2 to Schedule 13D is amended, in pertinent part, as follows: This statement is being filed by various entities which except for LICT Corporation ("LICT) and CIBL, Inc. ("CIBL"), engage in various aspects of the securities business, primarily as investment adviser to various institutional and individual clients, including registered investment companies and pension plans, and as general partner or the equivalent of various private investment partnerships or private funds and as a registered broker-dealer. Certain of these entities may also make investments for their own accounts. Mario J. Gabelli ("Mario Gabelli") is deemed to directly or indirectly control these entities through his ownership interest. The foregoing persons in the aggregate often own beneficially more than 5% of a class of equity securities of a particular issuer. Although several of the foregoing persons are treated as institutional investors for purposes of reporting their beneficial ownership on the short-form Schedule 13G, the holdings of those who do not qualify as institutional investors may exceed the 1% threshold presented for filing on Schedule 13G or implementation of their investment philosophy may from time to time require action which could be viewed as not completely passive. In order to avoid any question as to whether their beneficial than on the short-form Schedule 13G and thereby to provide more expansive disclosure than may be necessary. (a), (b) and (c) - This statement is being filed by one or more of the following persons: GGCP, Inc. ("GGCP"), GGCP Holdings LLC ("GGCP Holdings"), GAMCO Investors, Inc. ("GBL"), Associated Capital Group, Inc. ("AC"), Gabelli Funds, LLC ("Gabelli Funds"), GAMCO Asset Management Inc. ("GAMCO"),

Interest In Securities Of The Issuer

Item 5. Interest In Securities Of The Issuer

to Schedule 13D is amended, in pertinent part, as follows

Item 5 to Schedule 13D is amended, in pertinent part, as follows: (a) The aggregate number of Securities to which this Schedule 13D relates is 76,000 Preferred Shares representing 9.94% of the 764,760 shares outstanding as reported by the Issuer. The Reporting Persons beneficially own those Securities as follows: Name Preferred Shares % AC 76,000 9.94% Mario Gabelli is deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons. AC, GBL and GGCP are deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons other than Mario Gabelli and the Foundation. (b) Each of the Reporting Persons and Covered Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, either for its own benefit or for the benefit of its investment clients or its partners, as the case may be. (c) Information with respect to all transactions in the Securities which were effected during the past sixty days or since the most recent filing on Schedule 13D, whichever is less, by each of the Reporting Persons and Covered Persons is set forth on Schedule II annexed hereto and incorporated herein by reference. (e) Not applicable. 6 Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 8, 2024 GGCP, INC. MARIO J. GABELLI By: /s/ David Goldman David Goldman Attorney-in-Fact GAMCO INVESTORS, INC. By: /s/ Peter D. Goldstein Peter D. Goldstein General Counsel – GAMCO Investors, Inc. ASSOCIATED CAPITAL GROUP, INC. By: /s/ Douglas R. Jamieson Douglas R. Jamieson President & Chief Executive Officer – Associated Capital Group, Inc. 7 Schedule I Information with Respect to Executive Officers and Directors of the Undersigned Schedule I to Schedule 13D is amended, in pertine

View Full Filing

View this SC 13D/A filing on SEC EDGAR