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

Reaves Utility Income Fund (NYSEAMERICAN:UTG)’s stock price crossed 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 traded.

Reaves Utility Income Fund Trading Up 1.4 %

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

Reaves Utility Income Fund Dividend Announcement

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

Institutional Trading of Reaves Utility Income Fund

Large investors have recently made changes to their positions in the company. Larson Financial Group LLC increased its stake in Reaves Utility Income Fund by 442.2% during the 4th quarter. Larson Financial Group LLC now owns 1,220 shares of the closed-end fund’s stock worth $39,000 after purchasing an additional 995 shares in the last quarter. Anchor Investment Management LLC bought a new stake in shares of Reaves Utility Income Fund during the third quarter worth $51,000. TD Private Client Wealth LLC bought a new stake in shares of Reaves Utility Income Fund during the third quarter worth $74,000. Signaturefd LLC raised its holdings in shares of Reaves Utility Income Fund by 14.2% during the fourth quarter. Signaturefd LLC now owns 4,022 shares of the closed-end fund’s stock worth $127,000 after acquiring an additional 501 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in Reaves Utility Income Fund by 33.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 4,225 shares of the closed-end fund’s stock valued at $134,000 after acquiring an additional 1,059 shares in 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.