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

Reaves Utility Income Fund (NYSEAMERICAN:UTG) saw a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 7,528 shares, a decline of 92.8% from the May 14th total of 105,100 shares. Based on an average trading volume of 236,336 shares, the short-interest ratio is currently 0.0 days.

Reaves Utility Income Fund Trading Up 1.3%

Shares of NYSEAMERICAN:UTG traded up $0.51 during trading on Thursday, reaching $40.13. 243,327 shares of the stock were exchanged, compared to its average volume of 251,252. Reaves Utility Income Fund has a 12 month low of $34.56 and a 12 month high of $43.90. The stock has a 50-day moving average price of $41.74 and a 200-day moving average price of $39.59.

Reaves Utility Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 17th will be given a $0.20 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Wednesday, June 17th.

Institutional Investors Weigh In On Reaves Utility Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. raised its position in shares of Reaves Utility Income Fund by 52.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,760 shares of the closed-end fund’s stock valued at $64,000 after buying an additional 602 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Reaves Utility Income Fund in the first quarter valued at approximately $73,000. Assetmark Inc. raised its position in shares of Reaves Utility Income Fund by 201.9% in the third quarter. Assetmark Inc. now owns 1,947 shares of the closed-end fund’s stock valued at $77,000 after buying an additional 1,302 shares in the last quarter. Cornerstone Planning Group LLC acquired a new stake in shares of Reaves Utility Income Fund in the fourth quarter valued at approximately $75,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Reaves Utility Income Fund in the fourth quarter valued at approximately $91,000.

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.