Reaves Utility Income Fund to Issue Monthly Dividend of $0.20 (NYSEAMERICAN:UTG)

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Tuesday, December 16th. Stockholders of record on Wednesday, March 18th will be given a dividend of 0.20 per share by the closed-end fund on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Wednesday, March 18th.

Reaves Utility Income Fund Trading Down 2.4%

UTG stock traded down $0.91 during trading on Wednesday, hitting $36.30. 138,178 shares of the company traded hands, compared to its average volume of 278,112. The company has a 50-day moving average of $38.10 and a 200-day moving average of $37.54. Reaves Utility Income Fund has a 1 year low of $27.55 and a 1 year high of $41.94.

About Reaves Utility Income Fund

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.