Reaves Utility Income Fund (UTG) To Go Ex-Dividend on December 31st

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Tuesday, December 16th. Stockholders of record on Wednesday, December 31st will be paid a dividend of 0.20 per share by the closed-end fund on Friday, January 16th. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Wednesday, December 31st.

Reaves Utility Income Fund Price Performance

NYSEAMERICAN UTG opened at $36.85 on Monday. Reaves Utility Income Fund has a 52-week low of $27.55 and a 52-week high of $41.94. The business’s 50-day moving average price is $37.39 and its 200 day moving average price is $37.64.

Insider Buying and Selling at Reaves Utility Income Fund

In related news, insider Joseph Burns Rhame III bought 2,700 shares of the company’s stock in a transaction dated Thursday, October 23rd. The shares were acquired at an average price of $37.80 per share, with a total value of $102,060.00. Following the completion of the acquisition, the insider owned 13,559 shares in the company, valued at approximately $512,530.20. This trade represents a 24.86% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On Reaves Utility Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest 10 Wealth Builders Inc. acquired a new position in Reaves Utility Income Fund during the third quarter worth $27,000. Caldwell Trust Co purchased a new stake in shares of Reaves Utility Income Fund during the 2nd quarter worth $30,000. American National Bank & Trust acquired a new position in shares of Reaves Utility Income Fund during the 3rd quarter worth $34,000. CX Institutional purchased a new position in shares of Reaves Utility Income Fund in the 3rd quarter valued at about $36,000. Finally, AdvisorNet Financial Inc lifted its stake in shares of Reaves Utility Income Fund by 73.9% in the second quarter. AdvisorNet Financial Inc now owns 1,461 shares of the closed-end fund’s stock valued at $53,000 after purchasing an additional 621 shares during the period.

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.