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

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the recipient of a significant drop in short interest in 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 daily volume of 301,568 shares, the short-interest ratio is currently 0.0 days.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. PMG Family Office LLC boosted its position in Reaves Utility Income Fund by 1.0% during the first quarter. PMG Family Office LLC now owns 25,712 shares of the closed-end fund’s stock valued at $1,010,000 after purchasing an additional 245 shares in the last quarter. Advisory Services Network LLC increased its holdings in Reaves Utility Income Fund by 1.4% in the 4th quarter. Advisory Services Network LLC now owns 19,404 shares of the closed-end fund’s stock worth $710,000 after buying an additional 269 shares during the period. Assetmark Inc. raised its holdings in shares of Reaves Utility Income Fund by 13.1% during the first quarter. Assetmark Inc. now owns 2,449 shares of the closed-end fund’s stock worth $96,000 after purchasing an additional 283 shares during the last quarter. Mariner LLC raised its stake in shares of Reaves Utility Income Fund by 0.3% during the 3rd quarter. Mariner LLC now owns 129,280 shares of the closed-end fund’s stock valued at $5,122,000 after buying an additional 328 shares during the last quarter. Finally, Brookstone Capital Management lifted its holdings in shares of Reaves Utility Income Fund by 2.1% in the 4th quarter. Brookstone Capital Management now owns 20,258 shares of the closed-end fund’s stock valued at $741,000 after buying an additional 415 shares during the period.

Reaves Utility Income Fund Price Performance

Shares of UTG stock opened at $40.75 on Tuesday. Reaves Utility Income Fund has a 52-week low of $35.81 and a 52-week high of $43.90. The company’s 50 day moving average is $41.56 and its 200 day moving average is $40.21.

Reaves Utility Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 17th will be issued a $0.21 dividend. The ex-dividend date is Thursday, September 17th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%.

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.