Reaves Utility Income Fund (UTG) To Go Ex-Dividend on July 18th

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a dividend on Wednesday, July 16th, investing.com reports. Stockholders of record on Monday, July 21st will be given a dividend of 0.20 per share by the closed-end fund on Thursday, July 31st. This represents a dividend yield of 6.62%. The ex-dividend date of this dividend is Friday, July 18th. This is a 5.3% increase from Reaves Utility Income Fund’s previous dividend of $0.19.

Reaves Utility Income Fund Trading Down 0.6%

Shares of NYSEAMERICAN UTG opened at $36.26 on Wednesday. Reaves Utility Income Fund has a 52 week low of $27.55 and a 52 week high of $36.50. The firm has a 50-day moving average price of $34.91 and a 200 day moving average price of $33.27.

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 bought a new stake in Reaves Utility Income Fund (NYSEAMERICAN:UTG) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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.