Reaves Utility Income Fund (NYSEAMERICAN:UTG) Shares Pass Above Fifty Day Moving Average – Should You Sell?

Reaves Utility Income Fund (NYSEAMERICAN:UTG) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $30.43 and traded as high as $32.80. Reaves Utility Income Fund shares last traded at $32.70, with a volume of 293,444 shares trading hands.

Reaves Utility Income Fund Stock Up 0.2 %

The stock has a fifty day moving average of $30.43.

Reaves Utility Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.97%.

Institutional Trading of Reaves Utility Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. J.W. Cole Advisors Inc. increased its holdings in shares of Reaves Utility Income Fund by 14.5% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 318,461 shares of the closed-end fund’s stock valued at $10,449,000 after acquiring an additional 40,248 shares during the last quarter. Private Advisor Group LLC increased its stake in Reaves Utility Income Fund by 1.2% during the second quarter. Private Advisor Group LLC now owns 205,892 shares of the closed-end fund’s stock valued at $5,625,000 after purchasing an additional 2,377 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Reaves Utility Income Fund by 7.7% during the third quarter. Stifel Financial Corp now owns 181,838 shares of the closed-end fund’s stock worth $5,966,000 after purchasing an additional 12,947 shares during the period. Captrust Financial Advisors lifted its position in shares of Reaves Utility Income Fund by 852.4% in the 3rd quarter. Captrust Financial Advisors now owns 176,864 shares of the closed-end fund’s stock worth $5,803,000 after buying an additional 158,293 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. grew its position in shares of Reaves Utility Income Fund by 2.2% during the 3rd quarter. Sterling Investment Advisors Ltd. now owns 174,661 shares of the closed-end fund’s stock valued at $5,731,000 after buying an additional 3,775 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.