Reaves Utility Income Fund (NYSEAMERICAN:UTG) Short Interest Down 92.8% in May

Reaves Utility Income Fund (NYSEAMERICAN:UTG) saw a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 7,528 shares, a decline of 92.8% from the May 14th total of 105,100 shares. Based on an average daily trading volume, of 236,336 shares, the short-interest ratio is currently 0.0 days.

Institutional Trading of Reaves Utility Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in UTG. Sunpointe LLC increased its position in Reaves Utility Income Fund by 3.7% in the 3rd quarter. Sunpointe LLC now owns 18,427 shares of the closed-end fund’s stock valued at $730,000 after acquiring an additional 653 shares during the period. Walled Lake Planning & Wealth Management LLC increased its position in Reaves Utility Income Fund by 9.5% in the 3rd quarter. Walled Lake Planning & Wealth Management LLC now owns 15,385 shares of the closed-end fund’s stock valued at $610,000 after acquiring an additional 1,340 shares during the period. IFG Advisory LLC acquired a new position in Reaves Utility Income Fund in the 3rd quarter valued at about $215,000. Monetary Management Group Inc. increased its position in Reaves Utility Income Fund by 15.9% in the 3rd quarter. Monetary Management Group Inc. now owns 19,000 shares of the closed-end fund’s stock valued at $753,000 after acquiring an additional 2,600 shares during the period. Finally, MAI Capital Management increased its position in Reaves Utility Income Fund by 120.0% in the 3rd quarter. MAI Capital Management now owns 11,509 shares of the closed-end fund’s stock valued at $456,000 after acquiring an additional 6,277 shares during the period.

Reaves Utility Income Fund Stock Down 0.7%

Shares of Reaves Utility Income Fund stock traded down $0.27 on Tuesday, hitting $40.14. The stock had a trading volume of 304,983 shares, compared to its average volume of 251,056. Reaves Utility Income Fund has a 52-week low of $34.56 and a 52-week high of $43.90. The company’s 50 day moving average price is $41.73 and its 200 day moving average price is $39.57.

Reaves Utility Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 17th will be issued a $0.20 dividend. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Wednesday, June 17th.

Reaves Utility Income Fund Company Profile

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.