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

Reaves Utility Income Fund (NYSEAMERICAN:UTG)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $31.91 and traded as high as $33.12. Reaves Utility Income Fund shares last traded at $32.42, with a volume of 307,926 shares traded.

Reaves Utility Income Fund Price Performance

The business has a 50-day simple moving average of $32.95 and a two-hundred day simple moving average of $31.89.

Institutional Investors Weigh In On Reaves Utility Income Fund

A number of institutional investors have recently added to or reduced their stakes in UTG. Wealth Enhancement Advisory Services LLC grew its stake in shares of Reaves Utility Income Fund by 14.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,317 shares of the closed-end fund’s stock valued at $676,000 after purchasing an additional 2,673 shares during the period. Centaurus Financial Inc. boosted its stake in Reaves Utility Income Fund by 138.8% in the 4th quarter. Centaurus Financial Inc. now owns 52,543 shares of the closed-end fund’s stock valued at $1,665,000 after buying an additional 30,540 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Reaves Utility Income Fund in the 4th quarter valued at $619,000. Visionary Wealth Advisors bought a new stake in Reaves Utility Income Fund in the fourth quarter valued at $215,000. Finally, Vivaldi Capital Management LP acquired a new position in Reaves Utility Income Fund during the fourth quarter worth $815,000.

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.