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

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

Reaves Utility Income Fund Price Performance

Shares of NYSEAMERICAN UTG opened at $32.71 on Thursday. The business has a fifty day moving average of $32.92 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC raised its holdings in shares of Reaves Utility Income Fund by 442.2% in the fourth quarter. Larson Financial Group LLC now owns 1,220 shares of the closed-end fund’s stock valued at $39,000 after buying an additional 995 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in Reaves Utility Income Fund in the third quarter worth about $51,000. TD Private Client Wealth LLC acquired a new stake in Reaves Utility Income Fund in the third quarter worth about $74,000. Signaturefd LLC increased its position 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 period. Finally, Brown Brothers Harriman & Co. increased its position in Reaves Utility Income Fund by 33.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 4,225 shares of the closed-end fund’s stock worth $134,000 after purchasing an additional 1,059 shares during the period.

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.