Reaves Utility Income Fund (NYSEAMERICAN:UTG) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Reaves Utility Income Fund (NYSEAMERICAN:UTG) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $31.53 and traded as high as $31.65. Reaves Utility Income Fund shares last traded at $31.53, with a volume of 415,377 shares trading hands.

Reaves Utility Income Fund Stock Performance

The business has a 50-day simple moving average of $32.76 and a two-hundred day simple moving average of $31.53.

Reaves Utility Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a yield of 7.23%. The ex-dividend date of this dividend is Tuesday, March 18th.

Hedge Funds Weigh In On Reaves Utility Income Fund

Large investors have recently modified their holdings of the business. Triumph Capital Management boosted its holdings in shares of Reaves Utility Income Fund by 4.5% in the 4th quarter. Triumph Capital Management now owns 7,945 shares of the closed-end fund’s stock valued at $252,000 after buying an additional 340 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in Reaves Utility Income Fund by 7.2% during the fourth quarter. SeaCrest Wealth Management LLC now owns 7,310 shares of the closed-end fund’s stock worth $232,000 after acquiring an additional 490 shares in the last quarter. Signaturefd LLC lifted its stake in Reaves Utility Income Fund by 14.2% in the fourth quarter. Signaturefd LLC now owns 4,022 shares of the closed-end fund’s stock valued at $127,000 after acquiring an additional 501 shares during the last quarter. Wealthcare Advisory Partners LLC grew its position in shares of Reaves Utility Income Fund by 8.9% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 7,209 shares of the closed-end fund’s stock valued at $228,000 after acquiring an additional 590 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Reaves Utility Income Fund by 3.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 20,765 shares of the closed-end fund’s stock worth $658,000 after purchasing an additional 612 shares during the last quarter.

Reaves Utility Income Fund Company Profile

Reaves Utility Income Fund is a closed ended balanced mutual fund launched and managed by W. H. Reaves & Company, Inc The fund invests in public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating in the Utilities sector. The fund primarily invests in dividend paying stocks and debt instruments of companies operating across all market capitalizations.