Reaves Utility Income Fund (NYSEAMERICAN:UTG) Short Interest Update

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 14,096 shares, a drop of 52.4% from the June 15th total of 29,641 shares. Based on an average trading volume of 301,568 shares, the short-interest ratio is presently 0.0 days.

Reaves Utility Income Fund Stock Performance

Reaves Utility Income Fund stock traded down $0.48 during mid-day trading on Thursday, hitting $40.21. The company’s stock had a trading volume of 293,037 shares, compared to its average volume of 254,576. The company has a 50 day moving average of $41.45 and a 200-day moving average of $40.26. Reaves Utility Income Fund has a one year low of $35.81 and a one year high of $43.90.

Reaves Utility Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 17th will be paid a dividend of $0.21 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Thursday, September 17th.

Hedge Funds Weigh In On Reaves Utility Income Fund

A number of hedge funds have recently added to or reduced their stakes in UTG. Abound Wealth Management purchased a new stake in shares of Reaves Utility Income Fund in the second quarter valued at approximately $32,000. Rockefeller Capital Management L.P. increased its holdings in Reaves Utility Income Fund by 52.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,760 shares of the closed-end fund’s stock worth $64,000 after purchasing an additional 602 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in Reaves Utility Income Fund during the 1st quarter valued at $73,000. Cornerstone Planning Group LLC bought a new stake in Reaves Utility Income Fund during the 4th quarter valued at $75,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Reaves Utility Income Fund in the 4th quarter worth $91,000.

Reaves Utility Income Fund Company Profile

Reaves Utility Income Fund (NYSE American: UTG) is a closed-end management investment company organized as a Delaware statutory trust. Since commencing operations in 1994, the fund’s primary objective has been to provide its shareholders with a high level of current income and the potential for capital appreciation. It does so by investing in a diversified portfolio of income-producing securities within the utilities sector.

The fund typically allocates its assets across common stocks, preferred stocks, corporate debt securities, convertible securities, rights, warrants and depositary receipts of regulated utility companies.