Reaves Utility Income Fund (NYSEAMERICAN:UTG) Declares Monthly Dividend of $0.20

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Wednesday, June 25th, Wall Street Journal reports. Shareholders of record on Wednesday, September 17th will be paid a dividend of 0.20 per share by the closed-end fund on Tuesday, September 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date is Wednesday, September 17th.

Reaves Utility Income Fund Stock Performance

Shares of NYSEAMERICAN UTG opened at $35.85 on Wednesday. The company’s 50 day moving average price is $33.79 and its 200-day moving average price is $32.89. Reaves Utility Income Fund has a 52-week low of $27.13 and a 52-week high of $35.88.

Hedge Funds Weigh In On Reaves Utility Income Fund

A hedge fund recently bought a new stake in Reaves Utility Income Fund stock. Focus Partners Wealth acquired a new stake in Reaves Utility Income Fund (NYSEAMERICAN:UTG) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 8,775 shares of the closed-end fund’s stock, valued at approximately $286,000.

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.