Reaves Utility Income Fund (NYSEAMERICAN:UTG – Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $31.91 and traded as high as $33.12. Reaves Utility Income Fund shares last traded at $32.42, with a volume of 307,926 shares changing hands.
Reaves Utility Income Fund Stock Down 9.6 %
The company has a 50-day moving average price of $32.95 and a 200 day moving average price of $31.89.
Institutional Trading of Reaves Utility Income Fund
A number of hedge funds have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC increased its stake in Reaves Utility Income Fund by 7.2% in the 4th quarter. SeaCrest Wealth Management LLC now owns 7,310 shares of the closed-end fund’s stock valued at $232,000 after buying an additional 490 shares during the period. ORG Partners LLC grew its holdings in shares of Reaves Utility Income Fund by 21.1% during the 4th quarter. ORG Partners LLC now owns 7,466 shares of the closed-end fund’s stock valued at $237,000 after acquiring an additional 1,300 shares in the last quarter. HBW Advisory Services LLC increased its stake in shares of Reaves Utility Income Fund by 2.4% in the fourth quarter. HBW Advisory Services LLC now owns 39,195 shares of the closed-end fund’s stock worth $1,242,000 after acquiring an additional 923 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Reaves Utility Income Fund in the third quarter worth $263,000. Finally, Neville Rodie & Shaw Inc. purchased a new stake in shares of Reaves Utility Income Fund during the fourth quarter worth $402,000.
Reaves Utility Income Fund Company Profile
Reaves Utility Income Fund is a closed ended balanced mutual fund launched and managed by W. H. Reaves & Company, Inc The fund invests in public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating in the Utilities sector. The fund primarily invests in dividend paying stocks and debt instruments of companies operating across all market capitalizations.
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