Reaves Utility Income Fund (NYSEAMERICAN:UTG) Shares Pass Above 50-Day Moving Average – What’s Next?

Reaves Utility Income Fund (NYSEAMERICAN:UTG) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $39.76 and traded as high as $40.27. Reaves Utility Income Fund shares last traded at $40.23, with a volume of 192,324 shares.

Reaves Utility Income Fund Trading Up 1.1%

The stock has a fifty day moving average of $39.86 and a 200-day moving average of $38.61.

Reaves Utility Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 17th will be issued a $0.20 dividend. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Wednesday, June 17th.

Institutional Investors Weigh In On Reaves Utility Income Fund

Institutional investors have recently added to or reduced their stakes in the business. Edge Financial Advisors LLC boosted its holdings in Reaves Utility Income Fund by 207.0% in the 3rd quarter. Edge Financial Advisors LLC now owns 25,217 shares of the closed-end fund’s stock valued at $999,000 after purchasing an additional 17,002 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Reaves Utility Income Fund in the 3rd quarter valued at approximately $405,000. CX Institutional purchased a new stake in Reaves Utility Income Fund in the 3rd quarter valued at approximately $36,000. CoreCap Advisors LLC boosted its holdings in Reaves Utility Income Fund by 17.8% in the 3rd quarter. CoreCap Advisors LLC now owns 6,604 shares of the closed-end fund’s stock valued at $262,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Kercheville Advisors LLC boosted its holdings in Reaves Utility Income Fund by 23.6% in the 3rd quarter. Kercheville Advisors LLC now owns 42,979 shares of the closed-end fund’s stock valued at $1,703,000 after purchasing an additional 8,209 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.