Reaves Utility Income Fund (NYSEAMERICAN:UTG) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Reaves Utility Income Fund (NYSEAMERICAN:UTG) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $36.77 and traded as low as $36.50. Reaves Utility Income Fund shares last traded at $37.30, with a volume of 369,206 shares.

Reaves Utility Income Fund Stock Performance

The business has a fifty day moving average of $38.74 and a 200-day moving average of $36.77.

Reaves Utility Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Wednesday, December 17th will be issued a $0.20 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Wednesday, December 17th.

Insider Activity at Reaves Utility Income Fund

In other news, insider Joseph Burns Rhame III acquired 2,700 shares of Reaves Utility Income Fund stock in a transaction that occurred on Thursday, October 23rd. The stock was bought at an average price of $37.80 per share, with a total value of $102,060.00. Following the completion of the purchase, the insider owned 13,559 shares in the company, valued at approximately $512,530.20. The trade was a 24.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Investors Weigh In On Reaves Utility Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quest 10 Wealth Builders Inc. purchased a new position in Reaves Utility Income Fund in the 3rd quarter worth approximately $27,000. Caldwell Trust Co purchased a new stake in shares of Reaves Utility Income Fund during the 2nd quarter valued at $30,000. American National Bank & Trust bought a new stake in shares of Reaves Utility Income Fund during the 3rd quarter worth $34,000. CX Institutional bought a new stake in shares of Reaves Utility Income Fund during the 3rd quarter worth $36,000. Finally, AdvisorNet Financial Inc grew its position in Reaves Utility Income Fund by 73.9% in the second quarter. AdvisorNet Financial Inc now owns 1,461 shares of the closed-end fund’s stock worth $53,000 after acquiring an additional 621 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.