Reaves Utility Income Fund (NYSEAMERICAN:UTG) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Reaves Utility Income Fund (NYSEAMERICAN:UTG) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $31.53 and traded as high as $31.65. Reaves Utility Income Fund shares last traded at $31.53, with a volume of 415,377 shares changing hands.

Reaves Utility Income Fund Price Performance

The firm has a 50 day moving average price of $32.76 and a 200-day moving average price of $31.53.

Reaves Utility Income Fund Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 7.23%.

Hedge Funds Weigh In On Reaves Utility Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of UTG. Triumph Capital Management increased its stake in Reaves Utility Income Fund by 4.5% in the fourth quarter. Triumph Capital Management now owns 7,945 shares of the closed-end fund’s stock valued at $252,000 after purchasing an additional 340 shares during the last quarter. SeaCrest Wealth Management LLC grew its position in shares of Reaves Utility Income Fund by 7.2% in the 4th quarter. SeaCrest Wealth Management LLC now owns 7,310 shares of the closed-end fund’s stock valued at $232,000 after buying an additional 490 shares during the last quarter. Signaturefd LLC raised its stake in 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 acquiring an additional 501 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in Reaves Utility Income Fund by 8.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 7,209 shares of the closed-end fund’s stock valued at $228,000 after acquiring an additional 590 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Reaves Utility Income Fund by 3.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 20,765 shares of the closed-end fund’s stock valued at $658,000 after acquiring an additional 612 shares in the last quarter.

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.