Reaves Utility Income Fund (NYSEAMERICAN:UTG) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Reaves Utility Income Fund (NYSEAMERICAN:UTG) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $31.53 and traded as high as $31.65. Reaves Utility Income Fund shares last traded at $31.53, with a volume of 415,377 shares trading hands.

Reaves Utility Income Fund Trading Up 1.4 %

The firm’s 50 day moving average price is $32.76 and its two-hundred day moving average price is $31.53.

Reaves Utility Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 7.23%. The ex-dividend date is Tuesday, March 18th.

Institutional Trading of Reaves Utility Income Fund

Several large investors have recently modified their holdings of UTG. Triumph Capital Management raised its holdings in shares of Reaves Utility Income Fund by 4.5% in the fourth quarter. Triumph Capital Management now owns 7,945 shares of the closed-end fund’s stock worth $252,000 after acquiring an additional 340 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in Reaves Utility Income Fund by 7.2% during the 4th quarter. SeaCrest Wealth Management LLC now owns 7,310 shares of the closed-end fund’s stock worth $232,000 after purchasing an additional 490 shares in the last quarter. Signaturefd LLC raised its stake in Reaves Utility Income Fund by 14.2% in the 4th quarter. Signaturefd LLC now owns 4,022 shares of the closed-end fund’s stock valued at $127,000 after purchasing an additional 501 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in Reaves Utility Income Fund by 8.9% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 7,209 shares of the closed-end fund’s stock valued at $228,000 after purchasing an additional 590 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Reaves Utility Income Fund by 3.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 20,765 shares of the closed-end fund’s stock valued at $658,000 after purchasing an additional 612 shares in 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.