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

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 160,300 shares, an increase of 39.4% from the March 15th total of 115,000 shares. Based on an average trading volume of 344,700 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On Reaves Utility Income Fund

Hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Reaves Utility Income Fund in the 4th quarter valued at approximately $8,703,000. Captrust Financial Advisors grew its holdings in shares of Reaves Utility Income Fund by 102.1% during the 4th quarter. Captrust Financial Advisors now owns 357,370 shares of the closed-end fund’s stock worth $11,325,000 after purchasing an additional 180,506 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Reaves Utility Income Fund by 38.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 446,194 shares of the closed-end fund’s stock worth $14,140,000 after buying an additional 125,072 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Reaves Utility Income Fund in the fourth quarter valued at about $3,213,000. Finally, Oak Family Advisors LLC grew its stake in shares of Reaves Utility Income Fund by 46.6% in the 4th quarter. Oak Family Advisors LLC now owns 251,772 shares of the closed-end fund’s stock valued at $7,979,000 after purchasing an additional 80,004 shares during the period.

Reaves Utility Income Fund Stock Performance

UTG stock opened at $31.57 on Friday. The firm has a 50 day simple moving average of $32.27 and a 200 day simple moving average of $31.89. Reaves Utility Income Fund has a 52 week low of $25.86 and a 52 week high of $35.29.

Reaves Utility Income Fund Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 18th will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, April 17th. This represents a dividend yield of 7.22%.

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.