Reaves Utility Income Fund (NYSEAMERICAN:UTG) Stock Crosses Above 50 Day Moving Average of $0.00

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Reaves Utility Income Fund (NYSEAMERICAN:UTG)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.00 and traded as high as $34.93. Reaves Utility Income Fund shares last traded at $34.72, with a volume of 189,188 shares changing hands.

The firm also recently announced a monthly dividend, which will be paid on Thursday, March 31st. Investors of record on Friday, March 18th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, March 17th. This represents a $2.28 annualized dividend and a yield of 6.57%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. lifted its position in Reaves Utility Income Fund by 2.5% during the third quarter. Moors & Cabot Inc. now owns 13,197 shares of the closed-end fund’s stock worth $434,000 after buying an additional 325 shares during the period. Cetera Advisor Networks LLC lifted its position in Reaves Utility Income Fund by 17.0% during the third quarter. Cetera Advisor Networks LLC now owns 45,910 shares of the closed-end fund’s stock worth $1,504,000 after buying an additional 6,655 shares during the period. National Asset Management Inc. lifted its position in Reaves Utility Income Fund by 56.6% during the third quarter. National Asset Management Inc. now owns 11,895 shares of the closed-end fund’s stock worth $390,000 after buying an additional 4,298 shares during the period. UBS Group AG lifted its position in Reaves Utility Income Fund by 6.4% during the third quarter. UBS Group AG now owns 224,859 shares of the closed-end fund’s stock worth $7,369,000 after buying an additional 13,469 shares during the period. Finally, LPL Financial LLC lifted its position in Reaves Utility Income Fund by 4.7% during the third quarter. LPL Financial LLC now owns 133,865 shares of the closed-end fund’s stock worth $4,387,000 after buying an additional 5,994 shares during the period.

About Reaves Utility Income Fund (NYSEAMERICAN:UTG)

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.

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