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

Reaves Utility Income Fund (NYSEAMERICAN:UTG)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $37.90 and traded as low as $37.51. Reaves Utility Income Fund shares last traded at $37.80, with a volume of 261,736 shares.

Reaves Utility Income Fund Price Performance

The company’s 50 day simple moving average is $37.15 and its 200 day simple moving average is $37.90.

Reaves Utility Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 18th will be paid a dividend of $0.20 per share. This represents a c) annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Wednesday, March 18th.

Hedge Funds Weigh In On Reaves Utility Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Westbourne Investment Advisors Inc. grew its position in shares of Reaves Utility Income Fund by 1.3% during the third quarter. Westbourne Investment Advisors Inc. now owns 23,200 shares of the closed-end fund’s stock worth $919,000 after buying an additional 300 shares in the last quarter. Mariner LLC grew its holdings in Reaves Utility Income Fund by 0.3% during the 3rd quarter. Mariner LLC now owns 129,280 shares of the closed-end fund’s stock worth $5,122,000 after acquiring an additional 328 shares in the last quarter. Brookstone Capital Management increased its position in shares of Reaves Utility Income Fund by 2.1% in the 4th quarter. Brookstone Capital Management now owns 20,258 shares of the closed-end fund’s stock valued at $741,000 after purchasing an additional 415 shares during the last quarter. Triumph Capital Management raised its holdings in shares of Reaves Utility Income Fund by 5.2% in the 3rd quarter. Triumph Capital Management now owns 8,399 shares of the closed-end fund’s stock valued at $333,000 after purchasing an additional 417 shares in the last quarter. Finally, Maridea Wealth Management LLC grew its stake in shares of Reaves Utility Income Fund by 2.9% during the fourth quarter. Maridea Wealth Management LLC now owns 15,234 shares of the closed-end fund’s stock worth $557,000 after purchasing an additional 425 shares in the last quarter.

Reaves Utility Income Fund Company Profile

Reaves Utility Income Fund (NYSE American: UTG) is a closed-end management investment company organized as a Delaware statutory trust. Since commencing operations in 1994, the fund’s primary objective has been to provide its shareholders with a high level of current income and the potential for capital appreciation. It does so by investing in a diversified portfolio of income-producing securities within the utilities sector.

The fund typically allocates its assets across common stocks, preferred stocks, corporate debt securities, convertible securities, rights, warrants and depositary receipts of regulated utility companies.