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

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 160,769 shares, an increase of 236.0% from the July 15th total of 47,850 shares. Based on an average trading volume of 306,542 shares, the short-interest ratio is currently 0.5 days.

Reaves Utility Income Fund Stock Performance

Shares of UTG stock traded down $0.01 during trading hours on Thursday, hitting $39.96. The company had a trading volume of 73,242 shares, compared to its average volume of 256,827. Reaves Utility Income Fund has a fifty-two week low of $35.81 and a fifty-two week high of $43.90. The company’s fifty day moving average is $40.21 and its 200 day moving average is $40.56.

Reaves Utility Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 17th will be issued a $0.21 dividend. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Thursday, September 17th.

Hedge Funds Weigh In On Reaves Utility Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quantum Portfolio Management LLC lifted its position in shares of Reaves Utility Income Fund by 980,504.5% during the first quarter. Quantum Portfolio Management LLC now owns 109,660,999 shares of the closed-end fund’s stock worth $4,307,484,000 after purchasing an additional 109,649,816 shares in the last quarter. Bank of America Corp DE increased its stake in Reaves Utility Income Fund by 27.2% during the 1st quarter. Bank of America Corp DE now owns 1,361,230 shares of the closed-end fund’s stock worth $53,469,000 after buying an additional 290,771 shares during the period. LPL Financial LLC lifted its holdings in Reaves Utility Income Fund by 13.6% during the 4th quarter. LPL Financial LLC now owns 779,445 shares of the closed-end fund’s stock worth $28,512,000 after buying an additional 93,261 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Reaves Utility Income Fund by 2.9% during the 4th quarter. Wells Fargo & Company MN now owns 679,292 shares of the closed-end fund’s stock worth $24,848,000 after buying an additional 18,922 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Reaves Utility Income Fund by 7.7% in the 1st quarter. Royal Bank of Canada now owns 576,373 shares of the closed-end fund’s stock valued at $22,639,000 after buying an additional 41,008 shares during the period.

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.