Reaves Utility Income Fund (NYSEAMERICAN:UTG) Stock Short Interest Report for September

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 27,041 shares, a decline of 83.2% from the September 15th total of 160,925 shares. Based on an average daily trading volume, of 432,808 shares, the days-to-cover ratio is presently 0.1 days.

Reaves Utility Income Fund Price Performance

Shares of NYSEAMERICAN UTG traded up $0.03 during trading on Monday, hitting $36.42. The company had a trading volume of 201,665 shares, compared to its average volume of 273,455. Reaves Utility Income Fund has a 52 week low of $33.53 and a 52 week high of $43.90. The business’s 50-day moving average is $37.44 and its 200 day moving average is $39.80.

Reaves Utility Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 30th. Investors of record on Thursday, December 17th will be issued a $0.21 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Thursday, December 17th.

Institutional Investors Weigh In On Reaves Utility Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Castle Rock Wealth Management LLC boosted its position in shares of Reaves Utility Income Fund by 1.7% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 17,487 shares of the closed-end fund’s stock valued at $639,000 after purchasing an additional 287 shares during the period. Gerald Baker Financial Group LLC increased its stake in Reaves Utility Income Fund by 6.4% in the 3rd quarter. Gerald Baker Financial Group LLC now owns 266,240 shares of the closed-end fund’s stock worth $9,145,000 after purchasing an additional 15,917 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Reaves Utility Income Fund by 30.1% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 16,920 shares of the closed-end fund’s stock worth $689,000 after purchasing an additional 3,913 shares in the last quarter. NewEdge Advisors LLC increased its stake in Reaves Utility Income Fund by 111.4% in the 2nd quarter. NewEdge Advisors LLC now owns 172,636 shares of the closed-end fund’s stock worth $7,030,000 after purchasing an additional 90,986 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Reaves Utility Income Fund by 34.6% during the 2nd quarter. IFP Advisors Inc now owns 3,157 shares of the closed-end fund’s stock worth $129,000 after buying an additional 812 shares during the period.

Reaves Utility Income Fund Company Profile

Reaves Utility Income Fund (NYSE American: UTG) is a closed-end investment company that seeks to provide investors with a high level of current income and the opportunity for long-term capital appreciation. The fund invests primarily in equity securities issued by companies involved in essential services and infrastructure.

Its portfolio may include electric, gas and water utilities, telecommunications companies, midstream energy businesses, and other firms supporting the delivery of utility and infrastructure services.