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

|About: Gabelli Utility Trust (GUT)|By:, SA News Editor
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."