Reaves Utility Income Fund (UTG) To Go Ex-Dividend on September 17th

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Tuesday, June 23rd. Stockholders of record on Thursday, September 17th will be paid a dividend of 0.21 per share by the closed-end fund on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Thursday, September 17th.

Reaves Utility Income Fund Stock Performance

UTG stock opened at $41.10 on Thursday. The firm has a 50 day moving average of $41.99 and a 200-day moving average of $39.88. Reaves Utility Income Fund has a 12 month low of $35.28 and a 12 month high of $43.90.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UTG. Newbridge Financial Services Group Inc. increased its holdings in shares of Reaves Utility Income Fund by 31.5% in the third quarter. Newbridge Financial Services Group Inc. now owns 29,296 shares of the closed-end fund’s stock worth $1,161,000 after purchasing an additional 7,013 shares during the period. Private Advisor Group LLC raised its holdings in shares of Reaves Utility Income Fund by 0.6% in the 3rd quarter. Private Advisor Group LLC now owns 141,421 shares of the closed-end fund’s stock valued at $5,603,000 after acquiring an additional 788 shares in the last quarter. Jefferies Financial Group Inc. boosted its position in shares of Reaves Utility Income Fund by 176.3% during the 3rd quarter. Jefferies Financial Group Inc. now owns 24,902 shares of the closed-end fund’s stock valued at $987,000 after acquiring an additional 15,888 shares during the last quarter. Certified Advisory Corp increased its position in shares of Reaves Utility Income Fund by 6.8% in the third quarter. Certified Advisory Corp now owns 16,278 shares of the closed-end fund’s stock worth $645,000 after purchasing an additional 1,032 shares during the last quarter. Finally, Modern Wealth Management LLC purchased a new stake in Reaves Utility Income Fund in the third quarter valued at approximately $458,000.

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.