GABELLI UTILITY TRUST — Director's Dealing 2004

Apr 12, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GABELLI UTILITY TRUST (GUT)
CIK: 0001080720
Period of Report: 2004-01-08

Reporting Person: GABELLI MARIO J (Director, Chairman & CIO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-08	Common Stock	S	2243	$9.45	Disposed	289556	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	182099	Indirect

Footnotes

F1: 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.