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 during 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 volume of 305,100 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Reaves Utility Income Fund

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

Reaves Utility Income Fund Price Performance

UTG opened at $32.47 on Friday. Reaves Utility Income Fund has a fifty-two week low of $25.26 and a fifty-two week high of $35.29. The company’s 50-day moving average is $32.98 and its 200 day 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.