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

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Tuesday, June 23rd. Stockholders of record on Tuesday, August 18th will be paid a dividend of 0.21 per share by the closed-end fund on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Tuesday, August 18th.

Reaves Utility Income Fund Stock Up 0.8%

Reaves Utility Income Fund stock opened at $40.34 on Friday. Reaves Utility Income Fund has a 1-year low of $35.81 and a 1-year high of $43.90. The company has a fifty day simple moving average of $40.16 and a 200 day simple moving average of $40.57.

Hedge Funds Weigh In On Reaves Utility Income Fund

Several hedge funds have recently modified their holdings of the stock. Focus Partners Wealth acquired a new stake in shares of Reaves Utility Income Fund in the first quarter valued at about $286,000. Walleye Capital LLC acquired a new position in Reaves Utility Income Fund during the second quarter valued at approximately $742,000. Baird Financial Group Inc. grew its stake in Reaves Utility Income Fund by 7.9% in the second quarter. Baird Financial Group Inc. now owns 7,586 shares of the closed-end fund’s stock valued at $274,000 after purchasing an additional 556 shares in the last quarter. NewEdge Advisors LLC grew its stake in Reaves Utility Income Fund by 42.3% in the second quarter. NewEdge Advisors LLC now owns 111,791 shares of the closed-end fund’s stock valued at $4,045,000 after purchasing an additional 33,237 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Reaves Utility Income Fund by 17.8% during the 2nd quarter. Raymond James Financial Inc. now owns 287,238 shares of the closed-end fund’s stock worth $10,392,000 after purchasing an additional 43,358 shares during the last quarter.

About Reaves Utility Income Fund

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.