Reaves Utility Income Fund (NYSEAMERICAN:UTG) Short Interest Update

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 115,000 shares, an increase of 122.0% from the February 28th total of 51,800 shares. Based on an average daily trading volume, of 305,100 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Reaves Utility Income Fund during the fourth quarter valued at $8,703,000. Captrust Financial Advisors raised its holdings in shares of Reaves Utility Income Fund by 102.1% in the 4th quarter. Captrust Financial Advisors now owns 357,370 shares of the closed-end fund’s stock valued at $11,325,000 after acquiring an additional 180,506 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Reaves Utility Income Fund by 38.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 446,194 shares of the closed-end fund’s stock valued at $14,140,000 after acquiring an additional 125,072 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Reaves Utility Income Fund during the fourth quarter worth about $3,213,000. Finally, Oak Family Advisors LLC increased its position in shares of Reaves Utility Income Fund by 46.6% in the fourth quarter. Oak Family Advisors LLC now owns 251,772 shares of the closed-end fund’s stock worth $7,979,000 after purchasing an additional 80,004 shares during the last quarter.

Reaves Utility Income Fund Stock Up 0.2 %

Reaves Utility Income Fund stock opened at $32.47 on Friday. Reaves Utility Income Fund has a 1-year low of $25.26 and a 1-year high of $35.29. The firm’s 50 day simple moving average is $32.98 and its 200 day simple moving average is $31.75.

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.