Reaves Utility Income Fund (UTG) To Go Ex-Dividend on June 17th

Reaves Utility Income Fund (NYSEAMERICAN:UTG) declared a monthly dividend on Tuesday, April 8th, Wall Street Journal reports. Shareholders of record on Tuesday, June 17th will be given a dividend of 0.19 per share by the closed-end fund on Monday, June 30th. This represents a $2.28 annualized dividend and a yield of 6.51%. The ex-dividend date is Tuesday, June 17th.

Reaves Utility Income Fund Price Performance

Shares of NYSEAMERICAN:UTG opened at $35.01 on Friday. The firm has a fifty day moving average of $33.13 and a two-hundred day moving average of $32.74. Reaves Utility Income Fund has a 12-month low of $27.13 and a 12-month high of $35.29.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Reaves Utility Income Fund stock. Focus Partners Wealth purchased a new stake in Reaves Utility Income Fund (NYSEAMERICAN:UTG) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,775 shares of the closed-end fund’s stock, valued at approximately $286,000.

About Reaves Utility Income Fund

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.