Reaves Utility Income Fund (NYSEAMERICAN:UTG) Short Interest Down 60.4% in August

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the recipient of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 63,653 shares, a decline of 60.4% from the July 30th total of 160,769 shares. Based on an average daily trading volume, of 234,189 shares, the short-interest ratio is currently 0.3 days.

Reaves Utility Income Fund Price Performance

Shares of Reaves Utility Income Fund stock opened at $38.20 on Friday. Reaves Utility Income Fund has a 1 year low of $35.81 and a 1 year high of $43.90. The stock has a 50-day moving average price of $39.79 and a 200 day moving average price of $40.66.

Reaves Utility Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 17th will be issued a $0.21 dividend. The ex-dividend date is Thursday, September 17th. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%.

Institutional Trading of Reaves Utility Income Fund

Several institutional investors have recently made changes to their positions in UTG. World Investment Advisors increased its stake in Reaves Utility Income Fund by 38.6% in the 4th quarter. World Investment Advisors now owns 63,041 shares of the closed-end fund’s stock valued at $2,306,000 after buying an additional 17,551 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Reaves Utility Income Fund by 19.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 52,942 shares of the closed-end fund’s stock valued at $1,937,000 after buying an additional 8,564 shares during the period. HBK Sorce Advisory LLC grew its holdings in shares of Reaves Utility Income Fund by 7.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 14,067 shares of the closed-end fund’s stock valued at $531,000 after acquiring an additional 1,000 shares in the last quarter. Griffin Asset Management Inc. grew its holdings in shares of Reaves Utility Income Fund by 25.3% during the 4th quarter. Griffin Asset Management Inc. now owns 49,809 shares of the closed-end fund’s stock valued at $1,822,000 after acquiring an additional 10,059 shares in the last quarter. Finally, Stephens Inc. AR increased its stake in shares of Reaves Utility Income Fund by 8.2% in the fourth quarter. Stephens Inc. AR now owns 30,157 shares of the closed-end fund’s stock worth $1,103,000 after acquiring an additional 2,295 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.