Reaves Utility Income Fund (NYSEAMERICAN:UTG) Sees Significant Decline in Short Interest

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

Reaves Utility Income Fund Trading Down 0.0 %

NYSEAMERICAN UTG traded down $0.01 on Wednesday, reaching $32.50. 204,642 shares of the stock traded hands, compared to its average volume of 322,325. Reaves Utility Income Fund has a 12 month low of $25.26 and a 12 month high of $35.29. The company has a fifty day moving average price of $32.89 and a 200-day moving average price of $31.65.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its holdings in shares of Reaves Utility Income Fund by 442.2% in the 4th quarter. Larson Financial Group LLC now owns 1,220 shares of the closed-end fund’s stock valued at $39,000 after acquiring an additional 995 shares during the period. Anchor Investment Management LLC purchased a new position in Reaves Utility Income Fund in the third quarter valued at about $51,000. TD Private Client Wealth LLC purchased a new position in Reaves Utility Income Fund in the third quarter valued at about $74,000. Signaturefd LLC lifted its position in shares of Reaves Utility Income Fund by 14.2% during the fourth quarter. Signaturefd LLC now owns 4,022 shares of the closed-end fund’s stock valued at $127,000 after buying an additional 501 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Reaves Utility Income Fund by 33.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 4,225 shares of the closed-end fund’s stock valued at $134,000 after buying an additional 1,059 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.