Reaves Utility Income Fund to Issue Monthly Dividend of $0.20 (NYSEAMERICAN:UTG)

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Tuesday, April 7th. Investors of record on Friday, April 17th will be paid a dividend of 0.20 per share by the closed-end fund on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Friday, April 17th.

Reaves Utility Income Fund Stock Performance

UTG stock traded up $0.03 during mid-day trading on Tuesday, hitting $40.26. 138,574 shares of the company were exchanged, compared to its average volume of 275,935. The firm’s 50 day simple moving average is $39.76 and its 200 day simple moving average is $38.58. Reaves Utility Income Fund has a 1-year low of $28.40 and a 1-year high of $42.35.

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.