SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* GABELLI MARIO J (Last) (First) (Middle) C/O GABELLI ASSET MANAGEMENT INC ONE CORPORATE CENTER (Street) RYE NY 10580 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol GABELLI GLOBAL UTILITY & INCOME TRUST [ GLU ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Chief Investment Officer
	3. Date of Earliest Transaction (Month/Day/Year) 06/30/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								0	D
Common Stock	06/30/2004		P		3,000	A	$18.42	156,200	I	Gabelli Asset Management Inc.(1)
Common Stock								5,236	I	Gabelli Funds, LLC(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* GABELLI MARIO J (Last) (First) (Middle) C/O GABELLI ASSET MANAGEMENT INC ONE CORPORATE CENTER (Street) RYE NY 10580 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner X Officer (give title below) Other (specify below) Chief Investment Officer

1. Name and Address of Reporting Person* GABELLI ASSET MANAGEMENT INC ET AL (Last) (First) (Middle) GABELLI FUNDS ONE CORPORATE CENTER (Street) RYE NY 10580 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Holding Company

1. Name and Address of Reporting Person* GABELLI GROUP CAPITAL PARTNERS INC (Last) (First) (Middle) 140 GREENWICH AVENUE (Street) GREENWICH CT 06830 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Parent Company

1. Name and Address of Reporting Person* GABELLI FUNDS LLC (Last) (First) (Middle) ONE CORPORATE CENTER (Street) RYE NY 10580 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Investment Adviser

Explanation of Responses:

1. The shares reported are the total shares owned by Gabelli Asset Management Inc. Mr. Gabelli and Gabelli Group Capital Partners, Inc. have less than a 100% interest in this entity and Gabelli Funds, LLC has no interest in this entity.

2. These shares were purchased by Gabelli Funds, LLC, the issuer's investment adviser, in order to provide the issuer with seed capital. The shares reported reflect the total number of shares held by Gabelli Funds, LLC, which is greater than the other reporting persons indirect pecuniary interest. Gabelli Funds, LLC, a joint filer with Mr. Gabelli, is located at One Corporate Center, Rye, NY 10580.

	/s/ James E. McKee as Attorney-in-Fact for Mario J. Gabelli	07/01/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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