GUT - GUT: This Will Not End Well

This will be a short article.

The Gabelli Utility Trust (GUT), a leveraged CEF investing in U.S. and international utilities, is currently trading at a whopping 84.2% premium to NAV.

It is the highest premium in GUT's entire history and by quite a margin. The fund has only traded somewhat close to these levels during a couple of days in June of 2009 and January of 2010, and the premiums didn't last long:

(Source: Cefconnect)

GUT's premium is also highest in the entire CEF space, and it is not even remotely close. Consider the

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