Reaves Utility Income Fund (NYSEAMERICAN:UTG) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Reaves Utility Income Fund (NYSEAMERICAN:UTG)’s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $39.63 and traded as low as $34.22. Reaves Utility Income Fund shares last traded at $34.42, with a volume of 377,549 shares trading hands.

Reaves Utility Income Fund Stock Performance

The stock’s 50 day moving average price is $36.93 and its 200-day moving average price is $39.59.

Reaves Utility Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, December 30th. Investors of record on Thursday, December 17th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $2.52 annualized dividend and a yield of 7.3%.

Institutional Investors Weigh In On Reaves Utility Income Fund

Several large investors have recently modified their holdings of the business. Westbourne Investment Advisors Inc. lifted its position in shares of Reaves Utility Income Fund by 8.0% during the first quarter. Westbourne Investment Advisors Inc. now owns 25,600 shares of the closed-end fund’s stock valued at $1,006,000 after buying an additional 1,900 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in shares of Reaves Utility Income Fund during the 1st quarter valued at $271,000. Janney Montgomery Scott LLC lifted its holdings in shares of Reaves Utility Income Fund by 3.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 111,125 shares of the closed-end fund’s stock valued at $4,365,000 after purchasing an additional 3,883 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Reaves Utility Income Fund by 52.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,760 shares of the closed-end fund’s stock worth $64,000 after purchasing an additional 602 shares in the last quarter. Finally, Innova Wealth Partners boosted its position in shares of Reaves Utility Income Fund by 49.0% in the 1st quarter. Innova Wealth Partners now owns 9,481 shares of the closed-end fund’s stock worth $372,000 after purchasing an additional 3,120 shares in the last quarter.

About Reaves Utility Income Fund

Reaves Utility Income Fund (NYSE American: UTG) is a closed-end investment company that seeks to provide investors with a high level of current income and the opportunity for long-term capital appreciation. The fund invests primarily in equity securities issued by companies involved in essential services and infrastructure.

Its portfolio may include electric, gas and water utilities, telecommunications companies, midstream energy businesses, and other firms supporting the delivery of utility and infrastructure services.