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

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 19,700 shares, an increase of 50.4% from the November 30th total of 13,100 shares. Based on an average daily volume of 271,500 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Anchor Investment Management LLC bought a new stake in Reaves Utility Income Fund during the 3rd quarter valued at $51,000. TD Private Client Wealth LLC purchased a new position in shares of Reaves Utility Income Fund in the third quarter valued at $74,000. EverSource Wealth Advisors LLC bought a new stake in shares of Reaves Utility Income Fund during the 2nd quarter valued at $71,000. ORG Partners LLC lifted its stake in Reaves Utility Income Fund by 42.2% in the 3rd quarter. ORG Partners LLC now owns 6,166 shares of the closed-end fund’s stock worth $203,000 after purchasing an additional 1,830 shares in the last quarter. Finally, Nwam LLC purchased a new stake in shares of Reaves Utility Income Fund in the third quarter worth $223,000.

Reaves Utility Income Fund Price Performance

NYSEAMERICAN:UTG traded down $0.03 during trading on Monday, reaching $31.81. The company’s stock had a trading volume of 451,418 shares, compared to its average volume of 325,104. Reaves Utility Income Fund has a 12 month low of $25.26 and a 12 month high of $35.29. The company has a 50 day simple moving average of $30.26.

Reaves Utility Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $2.28 annualized dividend and a yield of 7.17%.

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.