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

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 19,700 shares, a growth of 50.4% from the November 30th total of 13,100 shares. Based on an average daily volume of 271,500 shares, the days-to-cover ratio is currently 0.1 days.

Reaves Utility Income Fund Price Performance

UTG stock traded up $0.08 during mid-day trading on Friday, reaching $31.84. The company had a trading volume of 229,148 shares, compared to its average volume of 324,599. Reaves Utility Income Fund has a fifty-two week low of $25.26 and a fifty-two week high of $35.29. The company has a fifty day moving average of $30.26.

Reaves Utility Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 7.16%. The ex-dividend date of this dividend is Tuesday, March 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its position in shares of Reaves Utility Income Fund by 31.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 279,794 shares of the closed-end fund’s stock valued at $7,644,000 after buying an additional 66,163 shares during the last quarter. Biechele Royce Advisors lifted its holdings in shares of Reaves Utility Income Fund by 9.9% in the 2nd quarter. Biechele Royce Advisors now owns 24,350 shares of the closed-end fund’s stock valued at $665,000 after purchasing an additional 2,200 shares during the last quarter. Consolidated Portfolio Review Corp boosted its position in shares of Reaves Utility Income Fund by 51.8% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 93,562 shares of the closed-end fund’s stock valued at $2,556,000 after purchasing an additional 31,944 shares during the period. Magnus Financial Group LLC grew its stake in Reaves Utility Income Fund by 15.1% during the 2nd quarter. Magnus Financial Group LLC now owns 144,497 shares of the closed-end fund’s stock worth $3,948,000 after buying an additional 18,964 shares during the last quarter. Finally, Wealth Effects LLC increased its position in Reaves Utility Income Fund by 7.6% during the second quarter. Wealth Effects LLC now owns 68,445 shares of the closed-end fund’s stock worth $1,870,000 after buying an additional 4,806 shares during the period.

Reaves Utility Income Fund Company Profile

Reaves Utility Income Fund is a closed ended balanced mutual fund launched and managed by W. H. Reaves & Company, Inc The fund invests in public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating in the Utilities sector. The fund primarily invests in dividend paying stocks and debt instruments of companies operating across all market capitalizations.