Reaves Utility Income Fund Declares Monthly Dividend of $0.21 (NYSEAMERICAN:UTG)

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Tuesday, June 23rd. Stockholders of record on Tuesday, August 18th will be paid a dividend of 0.21 per share by the closed-end fund on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Tuesday, August 18th.

Reaves Utility Income Fund Trading Down 0.2%

NYSEAMERICAN:UTG opened at $42.46 on Wednesday. Reaves Utility Income Fund has a 1-year low of $35.28 and a 1-year high of $43.90. The stock has a fifty day simple moving average of $41.99 and a 200 day simple moving average of $39.86.

Institutional Investors Weigh In On Reaves Utility Income Fund

Large investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its position in shares of Reaves Utility Income Fund by 52.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,760 shares of the closed-end fund’s stock valued at $64,000 after acquiring an additional 602 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Reaves Utility Income Fund in the first quarter valued at $73,000. Cornerstone Planning Group LLC purchased a new stake in shares of Reaves Utility Income Fund in the fourth quarter valued at $75,000. Assetmark Inc. boosted its position in shares of Reaves Utility Income Fund by 201.9% in the third quarter. Assetmark Inc. now owns 1,947 shares of the closed-end fund’s stock worth $77,000 after buying an additional 1,302 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Reaves Utility Income Fund in the fourth quarter worth $91,000.

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.