Reaves Utility Income Fund (NYSEAMERICAN:UTG) to Issue Monthly Dividend of $0.20

Reaves Utility Income Fund (NYSEAMERICAN:UTG) declared a monthly dividend on Tuesday, April 7th. Shareholders of record on Monday, May 18th will be given a dividend of 0.20 per share by the closed-end fund on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Monday, May 18th.

Reaves Utility Income Fund Trading Up 0.1%

UTG stock opened at $40.26 on Wednesday. Reaves Utility Income Fund has a twelve month low of $28.40 and a twelve month high of $42.35. The firm’s fifty day simple moving average is $39.81 and its two-hundred day simple moving average is $38.59.

Institutional Trading of Reaves Utility Income Fund

A number of hedge funds have recently added to or reduced their stakes in UTG. Rockefeller Capital Management L.P. lifted its position in shares of Reaves Utility Income Fund by 52.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,760 shares of the closed-end fund’s stock valued at $64,000 after buying an additional 602 shares during the last quarter. World Investment Advisors lifted its position in shares of Reaves Utility Income Fund by 38.6% during the fourth quarter. World Investment Advisors now owns 63,041 shares of the closed-end fund’s stock valued at $2,306,000 after buying an additional 17,551 shares during the last quarter. NWF Advisory Services Inc. lifted its position in shares of Reaves Utility Income Fund by 17.9% during the fourth quarter. NWF Advisory Services Inc. now owns 46,809 shares of the closed-end fund’s stock valued at $1,712,000 after buying an additional 7,121 shares during the last quarter. Compound Planning Inc. lifted its position in shares of Reaves Utility Income Fund by 5.0% during the fourth quarter. Compound Planning Inc. now owns 17,343 shares of the closed-end fund’s stock valued at $634,000 after buying an additional 822 shares during the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of Reaves Utility Income Fund during the fourth quarter valued at about $235,000.

About Reaves Utility Income Fund

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.