Reaves Utility Income Fund (UTG) To Go Ex-Dividend on October 19th

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Wednesday, October 7th. Investors of record on Monday, October 19th will be paid a dividend of $0.21 per share by the closed-end fund on Friday, October 30th. This represents a $2.52 annualized dividend and a yield of 7.2%. The ex-dividend date is Monday, October 19th.

Reaves Utility Income Fund Trading Up 0.1%

NYSEAMERICAN:UTG traded up $0.03 during mid-day trading on Friday, hitting $35.08. The company had a trading volume of 255,981 shares, compared to its average volume of 272,904. The business has a fifty day simple moving average of $37.12 and a 200-day simple moving average of $39.66. Reaves Utility Income Fund has a 1 year low of $33.53 and a 1 year high of $43.90.

Institutional Investors Weigh In On Reaves Utility Income Fund

Several hedge funds have recently modified their holdings of the stock. Assetmark Inc. boosted its holdings in 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 acquiring an additional 283 shares during the period. D.A. Davidson & CO. acquired a new stake in Reaves Utility Income Fund in the first quarter valued at approximately $241,000. Matrix Private Capital Group LLC acquired a new stake in Reaves Utility Income Fund in the first quarter valued at approximately $941,000. Lido Advisors LLC raised its stake in shares of Reaves Utility Income Fund by 0.4% during the first quarter. Lido Advisors LLC now owns 150,589 shares of the closed-end fund’s stock valued at $5,915,000 after purchasing an additional 554 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of Reaves Utility Income Fund by 38.9% during the first quarter. Geneos Wealth Management Inc. now owns 4,466 shares of the closed-end fund’s stock valued at $175,000 after purchasing an additional 1,250 shares during the period.

About Reaves Utility Income Fund

Reaves Utility Income Fund (NYSE American: UTG) is a closed-end investment company that seeks to provide investors with a high level of current income and the opportunity for long-term capital appreciation. The fund invests primarily in equity securities issued by companies involved in essential services and infrastructure.

Its portfolio may include electric, gas and water utilities, telecommunications companies, midstream energy businesses, and other firms supporting the delivery of utility and infrastructure services.