Reaves Utility Income Fund Announces Monthly Dividend of $0.20 (NYSEAMERICAN:UTG)

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Tuesday, April 7th. Investors of record on Wednesday, June 17th will be given a dividend of 0.20 per share by the closed-end fund on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Wednesday, June 17th.

Reaves Utility Income Fund Stock Up 0.1%

UTG stock traded up $0.03 on Tuesday, hitting $40.26. 138,574 shares of the company’s stock traded hands, compared to its average volume of 275,935. Reaves Utility Income Fund has a 1-year low of $28.40 and a 1-year high of $42.35. The stock has a fifty day moving average of $39.76 and a 200-day moving average of $38.58.

Reaves Utility Income Fund Company Profile

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.