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

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Wednesday, June 25th, Wall Street Journal reports. Shareholders of record on Wednesday, September 17th will be paid a dividend of 0.20 per share by the closed-end fund on Tuesday, September 30th. This represents a $2.40 annualized dividend and a yield of 6.77%. The ex-dividend date is Wednesday, September 17th.

Reaves Utility Income Fund Stock Performance

Shares of NYSEAMERICAN UTG opened at $35.46 on Thursday. Reaves Utility Income Fund has a 12 month low of $27.13 and a 12 month high of $35.88. The company has a 50 day simple moving average of $33.87 and a two-hundred day simple moving average of $32.91.

Institutional Trading of Reaves Utility Income Fund

A hedge fund recently bought a new stake in Reaves Utility Income Fund stock. Focus Partners Wealth acquired a new stake in shares of Reaves Utility Income Fund (NYSEAMERICAN:UTG) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,775 shares of the closed-end fund’s stock, valued at approximately $286,000.

About Reaves Utility Income Fund

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.