Short Interest in Reaves Utility Income Fund (NYSEAMERICAN:UTG) Rises By 122.0%

Reaves Utility Income Fund (NYSEAMERICAN:UTG) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 115,000 shares, an increase of 122.0% from the February 28th total of 51,800 shares. Based on an average daily trading volume, of 305,100 shares, the days-to-cover ratio is currently 0.4 days.

Reaves Utility Income Fund Price Performance

Shares of Reaves Utility Income Fund stock traded up $0.08 on Friday, hitting $32.47. The company’s stock had a trading volume of 250,607 shares, compared to its average volume of 320,148. Reaves Utility Income Fund has a 1 year low of $25.26 and a 1 year high of $35.29. The firm has a fifty day moving average price of $32.98 and a 200-day moving average price of $31.75.

Institutional Trading of Reaves Utility Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in UTG. Larson Financial Group LLC lifted its stake in 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 valued at $39,000 after buying an additional 995 shares in the last quarter. Anchor Investment Management LLC purchased a new position in shares of 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 3rd quarter valued at about $74,000. Signaturefd LLC lifted its stake in Reaves Utility Income Fund by 14.2% in the 4th quarter. Signaturefd LLC now owns 4,022 shares of the closed-end fund’s stock worth $127,000 after purchasing an additional 501 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Reaves Utility Income Fund by 33.4% during the 4th 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 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.