LULU).- CO Z LLI ~oz ° at LLI CD l= = LULL ILI 0 r LLI I" O. CO Cl- ow Ca WV) ca moo CO a' o al CO CO z¢1- - CO W F Li. F ° 'LILY CC .,, o LLI Lu ° W V) LLI rICC =2 O ° 0 2 W W CO CO '-' aC • 0 O CC M < Ci z Ca Z 0 W W Ca E ° 0- ca O °Luca w o at z W>CLU ci w CO Z 0 CI W aC LC' W O. ▪ CO Li. w 0 0. .= Z oa Ca CC o W F CO 0 at z ▪ W CL W CC Calz o = cc = w ct• 3 co Lit = o w = 2 raj W iz CC 0. LLI cs = pco3 <3= a ›- cc ,2, = at -42 Li- I-, 0. =EEO =O en LU CI 0 CC = = I- CO cC SUBJECT TO COMPLETION, DATED MAY 25, 2016 THE GABELLI UTILITY TRUST Filed Pursuant to Rule 497(c) Registration Statement No. 333.203475 PRELIMINARY PROSPECTUS SUPPLEMENT (To Prospectus dated April 19, 2016) Shares % Series C Cumulative Preferred Shares (Liquidation Preference $25.00 per share) The Gabelli Utility Trust (the "Fund." "we." "us" or "our') is °tiering shares of %Series C Cumulative Preferred Shares, par value $0.001 per share (the "Series C Preferred Shares"). The Series C Preferred Shares will constitute a separate series of the Fund's preferred shares. Investors in Series C Preferred Shares will be entitled to receive. when, as and if declared by. or under authority granted by. the Fund's Board of Trustees. out of funds legally available therefor. cumulative cash dividends and distributions at a rate of % per annum of the $25.00 per share liquidation preference on the Series C Preferred Shares. Dividends and distributions on Series C Preferred Shares will be payable quarterly on March 26. June 26. September 26 and December 26 in each year. commencing on September 26. 2016. The Series C Preferred Shares are redeemable at our option on or after . 2021 and are subject to mandatory redemption by us in certain circumstances. See "Special Characteristics and Risks of the Series C Preferred Shares — Redemption." The Fund is a diversified, closed-end management investment