Reaves Utility Income Fund (NYSEAMERICAN:UTG) Short Interest Up 113.7% in January

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 20,300 shares, an increase of 113.7% from the January 15th total of 9,500 shares. Based on an average trading volume of 281,600 shares, the short-interest ratio is presently 0.1 days.

Reaves Utility Income Fund Trading Up 0.2 %

Shares of UTG stock traded up $0.08 on Thursday, reaching $34.17. 179,952 shares of the stock were exchanged, compared to its average volume of 300,144. Reaves Utility Income Fund has a twelve month low of $25.26 and a twelve month high of $35.29. The company’s 50 day moving average price is $31.30.

Reaves Utility Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 6.67%. The ex-dividend date is Tuesday, March 18th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in UTG. Larson Financial Group LLC increased its position in Reaves Utility Income Fund by 442.2% during the 4th quarter. Larson Financial Group LLC now owns 1,220 shares of the closed-end fund’s stock worth $39,000 after purchasing an additional 995 shares during the period. Anchor Investment Management LLC acquired a new stake in shares of Reaves Utility Income Fund in the 3rd quarter worth approximately $51,000. TD Private Client Wealth LLC acquired a new stake in shares of Reaves Utility Income Fund in the 3rd quarter worth approximately $74,000. Signaturefd LLC grew its holdings in shares of Reaves Utility Income Fund by 14.2% in the 4th quarter. Signaturefd LLC now owns 4,022 shares of the closed-end fund’s stock worth $127,000 after acquiring an additional 501 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in shares of Reaves Utility Income Fund by 33.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 4,225 shares of the closed-end fund’s stock valued at $134,000 after purchasing an additional 1,059 shares during the last quarter.

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.