Seeking Alpha

High yields aren't always a good thing: Mario Gabelli, whose high-yielding closed-end fund...

High yields aren't always a good thing: Mario Gabelli, whose high-yielding closed-end fund Gabelli Utility Trust (GUT) recently traded at a 60% premium to net asset value, even though 90% of the yield is now simply a return of investors' capital: "I personally think the premium is unsustainable. It's off the wall."
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