Reaves Utility Income Fund Declares Monthly Dividend of $0.21 (NYSEAMERICAN:UTG)

Reaves Utility Income Fund (NYSEAMERICAN:UTG) declared a monthly dividend on Tuesday, June 23rd. Investors of record on Thursday, September 17th will be given a dividend of 0.21 per share by the closed-end fund on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 5.9%. The ex-dividend date is Thursday, September 17th.

Reaves Utility Income Fund Stock Down 0.2%

Shares of UTG stock opened at $42.46 on Wednesday. The stock has a fifty day moving average price of $41.99 and a 200 day moving average price of $39.86. Reaves Utility Income Fund has a 1 year low of $35.28 and a 1 year high of $43.90.

Institutional Investors Weigh In On Reaves Utility Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in the business. PMG Family Office LLC raised its position in shares of Reaves Utility Income Fund by 1.0% in the first quarter. PMG Family Office LLC now owns 25,712 shares of the closed-end fund’s stock valued at $1,010,000 after buying an additional 245 shares during the last quarter. 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 acquiring an additional 269 shares during 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 acquiring an additional 283 shares during the last quarter. Mariner LLC grew its stake in Reaves Utility Income Fund by 0.3% in the 3rd quarter. Mariner LLC now owns 129,280 shares of the closed-end fund’s stock worth $5,122,000 after acquiring an additional 328 shares during the period. Finally, Brookstone Capital Management grew its stake in Reaves Utility Income Fund by 2.1% in the 4th quarter. Brookstone Capital Management now owns 20,258 shares of the closed-end fund’s stock worth $741,000 after acquiring an additional 415 shares during the period.

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.