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GABELLI UTILITY TRUST Director's Dealing 2003

Oct 7, 2003

32766_dirs_2003-10-07_4a1c4d4f-455e-432f-ad37-0edaa8cd49d2.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GABELLI UTILITY TRUST (GUT)
CIK: 0001080720
Period of Report: 2003-10-03

Reporting Person: GABELLI MARIO J (Chairman and CIO, Trustee)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2003-10-03 Common Stock P 109363 $7 Acquired 283466.81 Direct
2003-10-03 Common Stock P 70251 $7 Acquired 182099 Indirect

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 56 Indirect

Footnotes

F1: Represents shares received in the oversubscription in connection with the Issuer's rights offering.

F2: Owned by custodial accounts, the custodian of which is the Reporting Person and the beneficiary of which is the nephew of the Reporting Person. Mr. Gabelli hereby disclaims beneficial ownership of these shares.

F3: Mr. Gabelli has less than a 100% interest in this entity. The securities reported reflect the total amount of securities beneficially owned by this entity, which is greater than Mr. Gabelli's indirect pecuniary interest. Mr. Gabelli hereby disclaims beneficial ownership of the shares held by this entity which are in excess of his indirect pecuniary interest.