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

Reaves Utility Income Fund (NYSEAMERICAN:UTG) declared a monthly dividend on Tuesday, April 7th. Shareholders of record on Monday, May 18th will be given a dividend of 0.20 per share by the closed-end fund on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Monday, May 18th.

Reaves Utility Income Fund Stock Up 0.1%

Shares of Reaves Utility Income Fund stock traded up $0.03 during trading hours on Tuesday, reaching $40.26. 138,574 shares of the company were exchanged, 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’s fifty day moving average is $39.76 and its 200 day moving average is $38.58.

Institutional Trading of Reaves Utility Income Fund

A number of large investors have recently modified their holdings of UTG. Quest 10 Wealth Builders Inc. purchased a new stake in shares of Reaves Utility Income Fund during the third quarter worth $27,000. Caldwell Trust Co purchased a new stake in shares of Reaves Utility Income Fund during the second quarter worth $30,000. American National Bank & Trust purchased a new stake in shares of Reaves Utility Income Fund during the third quarter worth $34,000. CX Institutional purchased a new stake in shares of Reaves Utility Income Fund during the third quarter worth $36,000. Finally, Rockefeller Capital Management L.P. increased its position in shares of Reaves Utility Income Fund by 52.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,760 shares of the closed-end fund’s stock worth $64,000 after acquiring an additional 602 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.