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

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totaling 47,850 shares, a growth of 239.5% from the June 30th total of 14,096 shares. Based on an average daily volume of 253,848 shares, the days-to-cover ratio is currently 0.2 days.

Reaves Utility Income Fund Stock Down 1.3%

Shares of NYSEAMERICAN:UTG traded down $0.51 during trading on Monday, reaching $39.53. The stock had a trading volume of 262,244 shares, compared to its average volume of 253,399. Reaves Utility Income Fund has a one year low of $35.81 and a one year high of $43.90. The firm’s 50-day simple moving average is $41.03 and its 200 day simple moving average is $40.42.

Reaves Utility Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 17th will be paid a dividend of $0.21 per share. This represents a c) annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Thursday, September 17th.

Institutional Investors Weigh In On Reaves Utility Income Fund

Institutional investors have recently bought and sold shares of the company. Quantum Portfolio Management LLC increased its position in shares of 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 purchasing an additional 109,649,816 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Reaves Utility Income Fund by 27.2% in the 1st quarter. Bank of America Corp DE now owns 1,361,230 shares of the closed-end fund’s stock worth $53,469,000 after purchasing an additional 290,771 shares in the last quarter. LPL Financial LLC boosted its position in shares of Reaves Utility Income Fund by 13.6% in the 4th quarter. LPL Financial LLC now owns 779,445 shares of the closed-end fund’s stock worth $28,512,000 after purchasing an additional 93,261 shares in the last quarter. Wells Fargo & Company MN grew its stake in Reaves Utility Income Fund by 2.9% during the 4th quarter. Wells Fargo & Company MN now owns 679,292 shares of the closed-end fund’s stock worth $24,848,000 after buying an additional 18,922 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in Reaves Utility Income Fund by 7.7% during the 1st quarter. Royal Bank of Canada now owns 576,373 shares of the closed-end fund’s stock worth $22,639,000 after buying an additional 41,008 shares during the last quarter.

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.