Reaves Utility Income Fund (NYSEAMERICAN:UTG – Get Free Report)’s share price crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $40.24 and traded as low as $35.90. Reaves Utility Income Fund shares last traded at $36.14, with a volume of 280,222 shares traded.
Reaves Utility Income Fund Trading Down 0.8%
The firm’s fifty day moving average is $38.43 and its 200-day moving average is $40.20.
Institutional Trading of Reaves Utility Income Fund
Several hedge funds have recently modified their holdings of the company. Abound Wealth Management acquired a new position in shares of Reaves Utility Income Fund in the 2nd quarter worth approximately $32,000. Rockefeller Capital Management L.P. increased 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 valued at $64,000 after purchasing an additional 602 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Reaves Utility Income Fund during the 1st quarter valued at $73,000. Assetmark Inc. raised its position 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 valued at $96,000 after purchasing an additional 283 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Reaves Utility Income Fund in the 1st quarter valued at $106,000.
About Reaves Utility Income Fund
Reaves Utility Income Fund, Inc is a closed-end investment company listed on the NYSE American under the symbol UTG. The fund seeks to provide a high level of current income and long-term growth of capital by investing primarily in companies involved in the utility and infrastructure industries.
Its portfolio may include electric, gas and water utilities, telecommunications companies, energy infrastructure businesses, and other issuers whose operations are linked to essential services.
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