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

Reaves Utility Income Fund (NYSEAMERICAN:UTG) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 51,800 shares, a decrease of 13.5% from the February 13th total of 59,900 shares. Based on an average trading volume of 310,500 shares, the short-interest ratio is presently 0.2 days.

Reaves Utility Income Fund Stock Performance

Shares of NYSEAMERICAN:UTG opened at $32.84 on Friday. The firm has a 50 day simple moving average of $32.95 and a 200 day simple moving average of $31.70. Reaves Utility Income Fund has a 52 week low of $25.26 and a 52 week high of $35.29.

Institutional Investors Weigh In On Reaves Utility Income Fund

A number of institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC raised its holdings in shares of 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 valued at $39,000 after purchasing an additional 995 shares in the last quarter. Anchor Investment Management LLC acquired a new position in Reaves Utility Income Fund during the third quarter worth $51,000. TD Private Client Wealth LLC bought a new position in Reaves Utility Income Fund during the third quarter valued at about $74,000. Signaturefd LLC lifted its position in shares of Reaves Utility Income Fund by 14.2% in the fourth quarter. Signaturefd LLC now owns 4,022 shares of the closed-end fund’s stock worth $127,000 after buying an additional 501 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Reaves Utility Income Fund by 33.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 4,225 shares of the closed-end fund’s stock worth $134,000 after acquiring an additional 1,059 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.