Reaves Utility Income Fund (NYSEAMERICAN:UTG) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Reaves Utility Income Fund (NYSEAMERICAN:UTG) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $40.54 and traded as low as $38.95. Reaves Utility Income Fund shares last traded at $39.44, with a volume of 167,361 shares trading hands.

Reaves Utility Income Fund Trading Up 0.1%

The stock has a fifty day moving average price of $40.21 and a 200-day moving average price of $40.56.

Reaves Utility Income Fund Dividend Announcement

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

Hedge Funds Weigh In On Reaves Utility Income Fund

A number of hedge funds have recently made changes to their positions in the business. PMG Family Office LLC boosted its stake in Reaves Utility Income Fund by 1.0% in 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 acquiring an additional 245 shares during the period. Advisory Services Network LLC raised its position in shares of Reaves Utility Income Fund by 1.4% during the 4th quarter. Advisory Services Network LLC now owns 19,404 shares of the closed-end fund’s stock worth $710,000 after purchasing an additional 269 shares during the period. Assetmark Inc. lifted its holdings in shares of Reaves Utility Income Fund by 13.1% in the 1st 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 lifted its holdings in shares of Reaves Utility Income Fund by 0.3% in the 3rd quarter. Mariner LLC now owns 129,280 shares of the closed-end fund’s stock worth $5,122,000 after purchasing an additional 328 shares during the last quarter. Finally, Triumph Capital Management boosted its position in Reaves Utility Income Fund by 5.2% during the 3rd quarter. Triumph Capital Management now owns 8,399 shares of the closed-end fund’s stock valued at $333,000 after purchasing an additional 417 shares during the period.

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.