Reaves Utility Income Fund (NYSEAMERICAN:UTG) Short Interest Down 13.5% in February

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 51,800 shares, a decline of 13.5% from the February 13th total of 59,900 shares. Based on an average daily trading volume, of 310,500 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Reaves Utility Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UTG. Larson Financial Group LLC lifted its holdings in shares of Reaves Utility Income Fund by 442.2% in the 4th quarter. Larson Financial Group LLC now owns 1,220 shares of the closed-end fund’s stock worth $39,000 after acquiring an additional 995 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in Reaves Utility Income Fund in the 3rd quarter worth about $51,000. TD Private Client Wealth LLC purchased a new stake in Reaves Utility Income Fund in the 3rd quarter worth about $74,000. Signaturefd LLC lifted its stake in Reaves Utility Income Fund by 14.2% in the fourth 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. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Reaves Utility Income Fund by 33.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 4,225 shares of the closed-end fund’s stock valued at $134,000 after buying an additional 1,059 shares during the period.

Reaves Utility Income Fund Stock Down 0.0 %

Shares of UTG traded down $0.01 during mid-day trading on Wednesday, hitting $32.50. 204,642 shares of the stock were exchanged, compared to its average volume of 322,325. The firm has a 50-day moving average of $32.89 and a two-hundred day moving average of $31.65. Reaves Utility Income Fund has a 52-week low of $25.26 and a 52-week high of $35.29.

Reaves Utility Income Fund Company Profile

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.