Reaves Utility Income Fund (NYSEAMERICAN:UTG) Sees Significant Decline in Short Interest

Reaves Utility Income Fund (NYSEAMERICAN:UTG) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 51,800 shares, a drop of 13.5% from the February 13th total of 59,900 shares. Based on an average trading volume of 310,500 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of Reaves Utility Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of UTG. Triumph Capital Management raised its stake in Reaves Utility Income Fund by 4.5% during the 4th quarter. Triumph Capital Management now owns 7,945 shares of the closed-end fund’s stock valued at $252,000 after acquiring an additional 340 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of Reaves Utility Income Fund by 7.2% during the fourth quarter. SeaCrest Wealth Management LLC now owns 7,310 shares of the closed-end fund’s stock valued at $232,000 after purchasing an additional 490 shares during the period. Signaturefd LLC raised its stake in shares of Reaves Utility Income Fund by 14.2% during the fourth quarter. Signaturefd LLC now owns 4,022 shares of the closed-end fund’s stock valued at $127,000 after purchasing an additional 501 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in Reaves Utility Income Fund by 8.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 7,209 shares of the closed-end fund’s stock worth $228,000 after purchasing an additional 590 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Reaves Utility Income Fund by 3.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 20,765 shares of the closed-end fund’s stock valued at $658,000 after buying an additional 612 shares in the last quarter.

Reaves Utility Income Fund Stock Performance

Shares of NYSEAMERICAN:UTG opened at $32.84 on Friday. The company has a fifty day simple moving average of $32.95 and a 200 day simple moving average of $31.70. Reaves Utility Income Fund has a 12-month low of $25.26 and a 12-month high of $35.29.

About Reaves Utility Income Fund

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.