GABELLI UTILITY TRUST — Director's Dealing 2003

Sep 29, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GABELLI UTILITY TRUST (GUT)
CIK: 0001080720
Period of Report: 2003-09-25

Reporting Person: SCHACHTER DAVID I (Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-25	Common Stock Purchase Rights	$7	S	300	Disposed	2003-09-25	Common Stock (100)	Direct

Footnotes

F1: The reporting person acquired 300 common stock purchase rights as a result of a pro rata distribution of such rights on August 20, 2003.