Reaves Utility Income Fund (NYSEAMERICAN:UTG) Announces Monthly Dividend of $0.19

Reaves Utility Income Fund (NYSEAMERICAN:UTG) declared a monthly dividend on Friday, April 5th, NASDAQ reports. Stockholders of record on Friday, April 19th will be paid a dividend of 0.19 per share by the closed-end fund on Tuesday, April 30th. This represents a $2.28 annualized dividend and a dividend yield of 8.94%. The ex-dividend date is Thursday, April 18th.

Reaves Utility Income Fund has raised its dividend payment by an average of 4.6% annually over the last three years.

Reaves Utility Income Fund Price Performance

UTG opened at $25.49 on Wednesday. The stock’s fifty day moving average is $26.42. Reaves Utility Income Fund has a fifty-two week low of $23.24 and a fifty-two week high of $29.28.

Insider Transactions at Reaves Utility Income Fund

In other Reaves Utility Income Fund news, Director Joellen Legg bought 1,890 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was acquired at an average price of $26.46 per share, with a total value of $50,009.40. Following the completion of the transaction, the director now directly owns 1,890 shares in the company, valued at approximately $50,009.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of Reaves Utility Income Fund

Institutional investors have recently bought and sold shares of the company. First Trust Advisors LP boosted its position in Reaves Utility Income Fund by 5.4% during the third quarter. First Trust Advisors LP now owns 16,280 shares of the closed-end fund’s stock valued at $443,000 after purchasing an additional 827 shares during the last quarter. Captrust Financial Advisors bought a new position in Reaves Utility Income Fund during the second quarter valued at about $357,000. Mariner LLC raised its holdings in Reaves Utility Income Fund by 23.6% during the fourth quarter. Mariner LLC now owns 10,752 shares of the closed-end fund’s stock valued at $304,000 after buying an additional 2,056 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Reaves Utility Income Fund by 4.9% during the second quarter. Envestnet Asset Management Inc. now owns 8,867 shares of the closed-end fund’s stock valued at $275,000 after buying an additional 414 shares in the last quarter. Finally, SeaCrest Wealth Management LLC raised its holdings in Reaves Utility Income Fund by 14.3% during the fourth quarter. SeaCrest Wealth Management LLC now owns 9,570 shares of the closed-end fund’s stock valued at $271,000 after buying an additional 1,200 shares in the last quarter.

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.