Short Interest in Reaves Utility Income Fund (NYSEAMERICAN:UTG) Expands By 195.1%

Reaves Utility Income Fund (NYSEAMERICAN:UTG) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 59,900 shares, an increase of 195.1% from the January 31st total of 20,300 shares. Based on an average daily trading volume, of 285,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Reaves Utility Income Fund

Large investors have recently added to or reduced their stakes in the business. Triumph Capital Management boosted its stake in shares of Reaves Utility Income Fund by 4.5% during the 4th quarter. Triumph Capital Management now owns 7,945 shares of the closed-end fund’s stock worth $252,000 after purchasing an additional 340 shares during the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of Reaves Utility Income Fund by 7.2% during the 4th quarter. SeaCrest Wealth Management LLC now owns 7,310 shares of the closed-end fund’s stock worth $232,000 after purchasing an additional 490 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Reaves Utility Income Fund by 14.2% during the 4th quarter. Signaturefd LLC now owns 4,022 shares of the closed-end fund’s stock worth $127,000 after purchasing an additional 501 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of Reaves Utility Income Fund by 8.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 7,209 shares of the closed-end fund’s stock worth $228,000 after purchasing an additional 590 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Reaves Utility Income Fund by 3.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 20,765 shares of the closed-end fund’s stock worth $658,000 after purchasing an additional 612 shares during the last quarter.

Reaves Utility Income Fund Stock Up 1.1 %

Shares of UTG traded up $0.36 during trading hours on Friday, reaching $32.86. The company had a trading volume of 384,943 shares, compared to its average volume of 296,386. The firm has a 50 day moving average of $31.69. Reaves Utility Income Fund has a 12-month low of $25.26 and a 12-month high of $35.29.

Reaves Utility Income Fund Announces Dividend

The firm 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 of this dividend is Tuesday, March 18th. This represents a $2.28 dividend on an annualized basis and a yield of 6.94%.

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.