Reaves Utility Income Fund (NYSEAMERICAN:UTG) Short Interest Update

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totaling 160,925 shares, a growth of 107.0% from the August 31st total of 77,741 shares. Based on an average trading volume of 340,768 shares, the short-interest ratio is presently 0.5 days.

Reaves Utility Income Fund Stock Performance

Shares of NYSEAMERICAN:UTG traded up $0.39 during trading on Tuesday, reaching $34.29. 352,991 shares of the company traded hands, compared to its average volume of 271,533. The company’s 50 day moving average is $38.11 and its two-hundred day moving average is $40.08. Reaves Utility Income Fund has a 52 week low of $33.53 and a 52 week high of $43.90.

Institutional Investors Weigh In On Reaves Utility Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its stake in Reaves Utility Income Fund by 30.1% during the second quarter. Integrated Wealth Concepts LLC now owns 16,920 shares of the closed-end fund’s stock worth $689,000 after buying an additional 3,913 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of 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 valued at $7,030,000 after buying an additional 90,986 shares in the last quarter. IFP Advisors Inc raised its position in shares of Reaves Utility Income Fund by 34.6% in the 2nd quarter. IFP Advisors Inc now owns 3,157 shares of the closed-end fund’s stock valued at $129,000 after buying an additional 812 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Reaves Utility Income Fund by 41.3% during the 2nd quarter. Allworth Financial LP now owns 7,076 shares of the closed-end fund’s stock worth $288,000 after acquiring an additional 2,068 shares during the period. Finally, Readystate Asset Management LP bought a new stake in shares of Reaves Utility Income Fund during the 2nd quarter worth approximately $605,000.

About Reaves Utility Income Fund

Reaves Utility Income Fund, Inc is a closed-end investment company listed on the NYSE American under the symbol UTG. The fund seeks to provide a high level of current income and long-term growth of capital by investing primarily in companies involved in the utility and infrastructure industries.

Its portfolio may include electric, gas and water utilities, telecommunications companies, energy infrastructure businesses, and other issuers whose operations are linked to essential services.