Reaves Utility Income Fund (NYSEAMERICAN:UTG) Sees Large Growth in Short Interest

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 160,300 shares, an increase of 39.4% from the March 15th total of 115,000 shares. Based on an average trading volume of 344,700 shares, the days-to-cover ratio is currently 0.5 days.

Reaves Utility Income Fund Trading Up 0.9 %

Shares of NYSEAMERICAN:UTG opened at $31.57 on Friday. Reaves Utility Income Fund has a fifty-two week low of $25.86 and a fifty-two week high of $35.29. The company’s 50-day moving average price is $32.27 and its 200 day moving average price is $31.89.

Reaves Utility Income Fund Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 18th will be given a $0.19 dividend. This represents a yield of 7.22%. The ex-dividend date of this dividend is Thursday, April 17th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Oak Family Advisors LLC lifted its position in Reaves Utility Income Fund by 46.6% in the fourth quarter. Oak Family Advisors LLC now owns 251,772 shares of the closed-end fund’s stock worth $7,979,000 after purchasing an additional 80,004 shares during the period. Merrion Investment Management Co LLC grew its holdings in Reaves Utility Income Fund by 25.0% during the fourth quarter. Merrion Investment Management Co LLC now owns 25,000 shares of the closed-end fund’s stock worth $792,000 after acquiring an additional 5,000 shares during the period. XML Financial LLC raised its position in Reaves Utility Income Fund by 12.3% in the fourth quarter. XML Financial LLC now owns 42,501 shares of the closed-end fund’s stock worth $1,347,000 after acquiring an additional 4,641 shares in the last quarter. Magnus Financial Group LLC lifted its holdings in Reaves Utility Income Fund by 4.3% in the 4th quarter. Magnus Financial Group LLC now owns 173,896 shares of the closed-end fund’s stock valued at $5,511,000 after acquiring an additional 7,243 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake 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 worth $228,000 after purchasing an additional 590 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.