Reaves Utility Income Fund (NYSEAMERICAN:UTG) Short Interest Down 60.4% in August

Reaves Utility Income Fund (NYSEAMERICAN:UTG) saw a large drop in short interest in August. As of August 14th, there was short interest totaling 63,653 shares, a drop of 60.4% from the July 30th total of 160,769 shares. Based on an average daily volume of 234,189 shares, the short-interest ratio is currently 0.3 days.

Reaves Utility Income Fund Trading Down 0.9%

NYSEAMERICAN UTG opened at $38.20 on Friday. Reaves Utility Income Fund has a 12 month low of $35.81 and a 12 month high of $43.90. The company’s 50 day simple moving average is $39.79 and its 200 day simple moving average is $40.66.

Reaves Utility Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 17th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a c) annualized dividend and a dividend yield of 6.6%.

Institutional Investors Weigh In On Reaves Utility Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of UTG. PMG Family Office LLC increased its stake in Reaves Utility Income Fund by 1.0% in the 1st quarter. PMG Family Office LLC now owns 25,712 shares of the closed-end fund’s stock worth $1,010,000 after purchasing an additional 245 shares in the last quarter. Advisory Services Network LLC lifted its stake in Reaves Utility Income Fund by 1.4% during the fourth quarter. Advisory Services Network LLC now owns 19,404 shares of the closed-end fund’s stock valued at $710,000 after buying an additional 269 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Reaves Utility Income Fund by 13.1% in the first quarter. Assetmark Inc. now owns 2,449 shares of the closed-end fund’s stock worth $96,000 after buying an additional 283 shares during the period. Mariner LLC boosted its holdings in shares of Reaves Utility Income Fund by 0.3% in the third quarter. Mariner LLC now owns 129,280 shares of the closed-end fund’s stock worth $5,122,000 after buying an additional 328 shares during the period. Finally, Triumph Capital Management increased its position in shares of Reaves Utility Income Fund by 5.2% in the third quarter. Triumph Capital Management now owns 8,399 shares of the closed-end fund’s stock worth $333,000 after acquiring an additional 417 shares in the last quarter.

About Reaves Utility Income Fund

Reaves Utility Income Fund (NYSE American: UTG) is a closed-end management investment company organized as a Delaware statutory trust. Since commencing operations in 1994, the fund’s primary objective has been to provide its shareholders with a high level of current income and the potential for capital appreciation. It does so by investing in a diversified portfolio of income-producing securities within the utilities sector.

The fund typically allocates its assets across common stocks, preferred stocks, corporate debt securities, convertible securities, rights, warrants and depositary receipts of regulated utility companies.