1yakira13ga2glu.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Information Statement Pursuant to Rules 13d-1 and 13d-2 Under the Securities Exchange Act of 1934 (Amendment No. 2)* THE GABELLI GLOBAL UTILITY & INCOME TRUST (Name of Issuer) SERIES A PREFERRED STOCK (Title of Class of Securities) 36242L204 (CUSIP Number) BRUCE KALLINS, PRINCIPAL YAKIRA CAPITAL MANAGEMENT, INC. 991 POST ROAD EAST, 2ND FLOOR WESTPORT, CT 06880 (203) 341-0606 MAY 22, 2014 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 36242L204 13G/A 1. Names of Reporting Persons, I.R.S. Identification Nos. of above persons (entities only): YAKIRA PARTNERS, L.P. 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [ ] 3. SEC Use Only 4. Citizenship or Place of Organization DELAWARE Number of 5. Sole Voting Power: 36,304 Shares Bene- ficially Owned by Each 6. Shared Voting Power: 00,000 Reporting Person With: 7. Sole Dispositive Power: 36,304 8. Shared Dispositive Power: 00,000 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 36,304 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] 11. Percent of Class Represented by Amount in Row (9): 3.52% 12. Type of Reporting Person (See Instructions) PN CUSIP No. 36242L204 13G/A 1. Names of Reporting Persons, I.R.S. Identification Nos. of above persons (entities only): MAP 136 SEGREGATED PORTFOLIO 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [ ] 3. SEC Use Only 4. Citizenship or Place of Organization CAYMAN ISLANDS Number of 5. Sole Voting Power: 47,216 Shares Bene- ficially Owned by Each 6. Shared Voting Power: 00,000 Reporting Person With: 7. Sole Dispositive Power: 47,216 8. Shared Dispositive Power: 00,000 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 47,216 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] 11. Percent of Class Represented by Amount in Row (9): 4.57% 12. Type of Reporting Person (See Instructions) OO CUSIP No. 36242L204 13G/A ITEM 1. (a) Name of Issuer: THE GABELLI GLOBAL UTILITY & INCOME TRUST (b) Address of issuer's Principal Executive Offices GABELLI FUNDS, LLC ONE CORPORATE CENTER RYE, NY 10580-1422 ITEM 2. (a) Name of Person Filing YAKIRA CAPITAL MANAGEMENT, INC. (b) Address of Principal Business Office or, if none, Residence 991 POST ROAD EAST, 2ND FLOOR WESTPORT, CT 06880 (c) Citizenship: DELAWARE (d) Title of Class of Securities SERIES A PREFERRED STOCK (e) CUSIP Number 36242L204 ITEM 3. If this statement is filed pursuant to Sec. 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [x] An investment adviser in accordance with Sec. 240.13d-1 (b)(1)(ii)(E). (f) [ ] An employee benefit plant or endowment fund in accordance with Sec. 140.13d-1(b)(1)(ii)(F). (g) [ ] A parent holding company or control person in accordance with Sec. 240.13d-1(b)(1)(ii)(G). CUSIP No. 36242L204 13G/A (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3). (j) [ ] Group, in accordance with Sec. 240.13d-1(b)1(ii)(J). ITEM 4. Ownership Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 83,520 (b) Percent of class: 8.09% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 83,520 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 83,520 (iv) Shared power to dispose or to direct the disposition of: 0 Instruction. For computations regarding securities which represent a right to acquire an underlying security see Sec. 204.13d-3(d)(1). ITEM 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. Instruction: Dissolution of a group requires a response to this item. ITEM 6. Ownership of More than Five Percent on Behalf of Another Person NOT APPLICABLE CUSIP No. 36242L204 13G/A ITEM 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company NOT APPLICABLE ITEM 8. Identification and Classification of Members of the Group NOT APPLICABLE ITEM 9. Notice of Dissolution of Group NOT APPLICABLE ITEM 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. MAY 22, 2014 /s/ BRUCE KALLINS --------------------------- BRUCE KALLINS, PRINCIPAL