SEC FORM 4/A

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

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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

10580

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
GABELLI UTILITY TRUST [ GUT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chairman and CIO

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2003

4. If Amendment, Date of Original Filed (Month/Day/Year)
09/29/2003

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	09/25/2003		P		45,530	A	$7	182,120	D
Common Stock	09/25/2003		P		14	A	$7	56	I	Nephew⁽¹⁾
Common Stock	09/25/2003		P		27,962	A	$7	111,848	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock Purchase Rights⁽³⁾	$7	09/25/2003		X			136,590	08/20/2003	09/25/2003	Common Stock	45,530	$0⁽³⁾	0	D
Common Stock Purchase Rights⁽⁴⁾	$7	09/25/2003		X			42	08/20/2003	09/25/2003	Common Stock	14	$0⁽⁴⁾	0	I	Nephew⁽¹⁾
Common Stock Purchase Rights⁽⁵⁾	$7	09/25/2003		X			83,886	08/20/2003	09/25/2003	Common Stock	27,962	$0⁽⁵⁾	0	I	Gabelli Funds, LLC⁽²⁾

Explanation of Responses:

1. 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.

2. 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.

3. The reporting person acquired 136,590 common stock purchase rights as a result of a pro rata distribution of such rights on August 20, 2003.

4. The custodial account for the nephew of the reporting person acquired 42 common stock purchase rights as a result of a pro rata distribution of such rights on August 20, 2003

5. Gabelli Funds, LLC acquired 83,886 common stock purchase rights as a result of a pro rata distribution of such rights on August 20, 2003.

	/s/ James E. McKee as Attorney-in-Fact for Mario J. Gabelli	09/30/2003
	** 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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