Reaves Utility Income Fund (NYSEAMERICAN:UTG) Short Interest Up 195.1% in February

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

Institutional Investors Weigh In On Reaves Utility Income Fund

Several large investors have recently added to or reduced their stakes in the business. Nwam LLC purchased a new stake in shares of Reaves Utility Income Fund during the third quarter worth approximately $223,000. Prospera Financial Services Inc raised its holdings in shares of Reaves Utility Income Fund by 8.7% in the 3rd quarter. Prospera Financial Services Inc now owns 10,903 shares of the closed-end fund’s stock valued at $358,000 after purchasing an additional 870 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Reaves Utility Income Fund during the 3rd quarter worth $519,000. Balboa Wealth Partners purchased a new stake in shares of Reaves Utility Income Fund during the 3rd quarter worth $343,000. Finally, Sigma Planning Corp grew its stake in shares of Reaves Utility Income Fund by 5.3% during the third quarter. Sigma Planning Corp now owns 28,527 shares of the closed-end fund’s stock worth $936,000 after purchasing an additional 1,435 shares in the last quarter.

Reaves Utility Income Fund Trading Up 1.1 %

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

Reaves Utility Income Fund Dividend Announcement

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

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.