Short Interest in Reaves Utility Income Fund (NYSEAMERICAN:UTG) Rises By 195.1%

Reaves Utility Income Fund (NYSEAMERICAN:UTG) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 59,900 shares, a growth of 195.1% from the January 31st total of 20,300 shares. Based on an average daily volume of 285,000 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On Reaves Utility Income Fund

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Reaves Utility Income Fund in the fourth quarter worth $8,703,000. Captrust Financial Advisors boosted its holdings in Reaves Utility Income Fund by 102.1% during the fourth quarter. Captrust Financial Advisors now owns 357,370 shares of the closed-end fund’s stock worth $11,325,000 after buying an additional 180,506 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Reaves Utility Income Fund by 38.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 446,194 shares of the closed-end fund’s stock valued at $14,140,000 after acquiring an additional 125,072 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Reaves Utility Income Fund during the 4th quarter worth approximately $3,213,000. Finally, Oak Family Advisors LLC grew its holdings in shares of Reaves Utility Income Fund by 46.6% in the 4th quarter. Oak Family Advisors LLC now owns 251,772 shares of the closed-end fund’s stock worth $7,979,000 after acquiring an additional 80,004 shares during the period.

Reaves Utility Income Fund Stock Up 1.1 %

Shares of NYSEAMERICAN UTG traded up $0.36 during midday trading on Friday, reaching $32.86. 384,943 shares of the company were exchanged, compared to its average volume of 296,386. Reaves Utility Income Fund has a 1 year low of $25.26 and a 1 year high of $35.29. The company’s fifty day moving average is $31.69.

Reaves Utility Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date is Tuesday, March 18th.

About Reaves Utility Income Fund

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.