Reaves Utility Income Fund (NYSEAMERICAN:UTG) Stock Short Interest Report for September

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totaling 27,041 shares, a drop of 83.2% from the September 15th total of 160,925 shares. Based on an average daily trading volume, of 432,808 shares, the short-interest ratio is currently 0.1 days.

Reaves Utility Income Fund Price Performance

Shares of UTG stock opened at $36.39 on Friday. The company’s 50-day moving average price is $37.44 and its 200-day moving average price is $39.79. Reaves Utility Income Fund has a twelve month low of $33.53 and a twelve month high of $43.90.

Reaves Utility Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Thursday, December 17th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $2.52 annualized dividend and a yield of 6.9%.

Hedge Funds Weigh In On Reaves Utility Income Fund

Large investors have recently modified their holdings of the business. Quantum Portfolio Management LLC boosted its stake in Reaves Utility Income Fund by 980,504.5% during the first quarter. Quantum Portfolio Management LLC now owns 109,660,999 shares of the closed-end fund’s stock worth $4,307,484,000 after buying an additional 109,649,816 shares during the period. Bank of America Corp DE increased its position in shares of Reaves Utility Income Fund by 27.2% during the first quarter. Bank of America Corp DE now owns 1,361,230 shares of the closed-end fund’s stock worth $53,469,000 after acquiring an additional 290,771 shares during the period. Gerald Baker Financial Group LLC purchased a new stake in Reaves Utility Income Fund during the 1st quarter worth about $6,147,000. NewEdge Advisors LLC raised its position in Reaves Utility Income Fund by 111.4% in the 2nd quarter. NewEdge Advisors LLC now owns 172,636 shares of the closed-end fund’s stock valued at $7,030,000 after purchasing an additional 90,986 shares in the last quarter. Finally, Independent Financial Group LLC purchased a new position in Reaves Utility Income Fund in the first quarter worth approximately $2,873,000.

About Reaves Utility Income Fund

Reaves Utility Income Fund, Inc is a closed-end investment company listed on the NYSE American under the symbol UTG. The fund seeks to provide a high level of current income and long-term growth of capital by investing primarily in companies involved in the utility and infrastructure industries.

Its portfolio may include electric, gas and water utilities, telecommunications companies, energy infrastructure businesses, and other issuers whose operations are linked to essential services.