Reaves Utility Income Fund (NYSEAMERICAN:UTG) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Reaves Utility Income Fund (NYSEAMERICAN:UTG) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $36.77 and traded as low as $36.50. Reaves Utility Income Fund shares last traded at $37.30, with a volume of 369,206 shares.

Reaves Utility Income Fund Trading Up 0.3%

The firm has a 50-day moving average price of $38.74 and a 200 day moving average price of $36.77.

Reaves Utility Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Wednesday, December 17th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a c) annualized dividend and a yield of 6.4%.

Insider Activity at Reaves Utility Income Fund

In other Reaves Utility Income Fund news, insider Joseph Burns Rhame III purchased 2,700 shares of the firm’s stock in a transaction on Thursday, October 23rd. The shares were purchased at an average cost of $37.80 per share, with a total value of $102,060.00. Following the completion of the purchase, the insider owned 13,559 shares of the company’s stock, valued at $512,530.20. The trade was a 24.86% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Reaves Utility Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Advisors LLC raised its position in Reaves Utility Income Fund by 4.9% in the 3rd quarter. Cornerstone Advisors LLC now owns 768,185 shares of the closed-end fund’s stock worth $30,435,000 after purchasing an additional 35,700 shares during the period. Wealthcare Advisory Partners LLC grew its stake in shares of Reaves Utility Income Fund by 6.0% during the third quarter. Wealthcare Advisory Partners LLC now owns 9,216 shares of the closed-end fund’s stock valued at $365,000 after buying an additional 522 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Reaves Utility Income Fund by 1,465.4% in the third quarter. JPMorgan Chase & Co. now owns 3,569 shares of the closed-end fund’s stock worth $141,000 after buying an additional 3,341 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Reaves Utility Income Fund by 28.3% in the third quarter. PNC Financial Services Group Inc. now owns 44,378 shares of the closed-end fund’s stock worth $1,758,000 after buying an additional 9,779 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of Reaves Utility Income Fund by 201.9% in the 3rd quarter. Assetmark Inc. now owns 1,947 shares of the closed-end fund’s stock valued at $77,000 after acquiring an additional 1,302 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.