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

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 105,100 shares, an increase of 245.1% from the April 30th total of 30,457 shares. Based on an average trading volume of 192,743 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Reaves Utility Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in UTG. Rockefeller Capital Management L.P. grew its holdings in shares of Reaves Utility Income Fund by 52.0% in 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 acquiring an additional 602 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Reaves Utility Income Fund in the first quarter valued at approximately $73,000. Cornerstone Planning Group LLC acquired a new position in shares of Reaves Utility Income Fund during the 4th quarter worth approximately $75,000. Assetmark Inc. increased its position in shares of Reaves Utility Income Fund by 201.9% during the 3rd quarter. Assetmark Inc. now owns 1,947 shares of the closed-end fund’s stock worth $77,000 after purchasing an additional 1,302 shares during the last quarter. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Reaves Utility Income Fund during the 4th quarter worth approximately $91,000.

Reaves Utility Income Fund Trading Down 0.5%

Shares of NYSEAMERICAN:UTG traded down $0.20 during midday trading on Friday, reaching $42.45. 215,908 shares of the company were exchanged, compared to its average volume of 250,930. Reaves Utility Income Fund has a fifty-two week low of $34.02 and a fifty-two week high of $43.90. The stock has a fifty day simple moving average of $41.46 and a two-hundred day simple moving average of $39.36.

Reaves Utility Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 17th will be paid a $0.20 dividend. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date is Wednesday, June 17th.

Reaves Utility Income Fund Company Profile

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.