Reaves Utility Income Fund (NYSEAMERICAN:UTG) Short Interest Up 239.5% in July

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 47,850 shares, a growth of 239.5% from the June 30th total of 14,096 shares. Based on an average trading volume of 253,848 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of Reaves Utility Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. PMG Family Office LLC grew its position in Reaves Utility Income Fund by 1.0% during the first quarter. PMG Family Office LLC now owns 25,712 shares of the closed-end fund’s stock worth $1,010,000 after buying an additional 245 shares during the period. Advisory Services Network LLC boosted its position in Reaves Utility Income Fund by 1.4% during the fourth quarter. Advisory Services Network LLC now owns 19,404 shares of the closed-end fund’s stock worth $710,000 after purchasing an additional 269 shares in the last quarter. Assetmark Inc. boosted its position in Reaves Utility Income Fund by 13.1% during the first quarter. Assetmark Inc. now owns 2,449 shares of the closed-end fund’s stock worth $96,000 after purchasing an additional 283 shares in the last quarter. Mariner LLC grew its holdings in Reaves Utility Income Fund by 0.3% in the third quarter. Mariner LLC now owns 129,280 shares of the closed-end fund’s stock valued at $5,122,000 after purchasing an additional 328 shares during the last quarter. Finally, Brookstone Capital Management grew its holdings in Reaves Utility Income Fund by 2.1% in the fourth quarter. Brookstone Capital Management now owns 20,258 shares of the closed-end fund’s stock valued at $741,000 after purchasing an additional 415 shares during the last quarter.

Reaves Utility Income Fund Price Performance

Reaves Utility Income Fund stock traded down $0.39 during midday trading on Friday, reaching $40.04. The company’s stock had a trading volume of 149,597 shares, compared to its average volume of 253,336. Reaves Utility Income Fund has a fifty-two week low of $35.81 and a fifty-two week high of $43.90. The stock’s 50 day simple moving average is $41.03 and its 200 day simple moving average is $40.39.

Reaves Utility Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 17th will be issued a $0.21 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Thursday, September 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.