Reaves Utility Income Fund (NYSEAMERICAN:UTG) Stock Crosses Above 200-Day Moving Average – What’s Next?

Reaves Utility Income Fund (NYSEAMERICAN:UTG) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $31.69. Reaves Utility Income Fund shares last traded at $31.62, with a volume of 107,775 shares changing hands.

Reaves Utility Income Fund Price Performance

The company’s 50-day moving average price is $30.26.

Reaves Utility Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.28 annualized dividend and a yield of 7.21%.

Institutional Trading of Reaves Utility Income Fund

Several institutional investors have recently added to or reduced their stakes in UTG. Anchor Investment Management LLC purchased a new stake in shares of Reaves Utility Income Fund during the third quarter valued at $51,000. EverSource Wealth Advisors LLC bought a new stake in Reaves Utility Income Fund during the 2nd quarter valued at about $71,000. TD Private Client Wealth LLC purchased a new stake in Reaves Utility Income Fund in the 3rd quarter valued at about $74,000. ORG Partners LLC grew its stake in Reaves Utility Income Fund by 42.2% in the 3rd quarter. ORG Partners LLC now owns 6,166 shares of the closed-end fund’s stock worth $203,000 after acquiring an additional 1,830 shares in the last quarter. Finally, ELCO Management Co. LLC grew its stake in Reaves Utility Income Fund by 5.3% in the 2nd quarter. ELCO Management Co. LLC now owns 7,900 shares of the closed-end fund’s stock worth $216,000 after acquiring an additional 400 shares in the last quarter.

Reaves Utility Income Fund Company Profile

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.