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

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

Reaves Utility Income Fund Stock Up 0.1%

NYSEAMERICAN:UTG traded up $0.03 during mid-day trading 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 12 month low of $28.40 and a 12 month high of $42.35. The company has a fifty day moving average of $39.76 and a 200 day moving average of $38.58.

Institutional Investors Weigh In On Reaves Utility Income Fund

Hedge funds have recently added to or reduced their stakes in the stock. Quest 10 Wealth Builders Inc. bought a new stake in Reaves Utility Income Fund during the 3rd quarter worth about $27,000. Caldwell Trust Co bought a new stake in Reaves Utility Income Fund during the 2nd quarter worth about $30,000. American National Bank & Trust bought a new stake in Reaves Utility Income Fund during the 3rd quarter worth about $34,000. CX Institutional bought a new stake in Reaves Utility Income Fund during the 3rd quarter worth about $36,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Reaves Utility Income Fund by 52.0% during the 4th 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 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.