Reaves Utility Income Fund Plans Monthly Dividend of $0.19 (NYSEAMERICAN:UTG)

Reaves Utility Income Fund (NYSEAMERICAN:UTGGet Rating) declared a monthly dividend on Wednesday, April 13th, Wall Street Journal reports. Shareholders of record on Friday, June 17th will be given a dividend of 0.19 per share by the closed-end fund on Thursday, June 30th. This represents a $2.28 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date of this dividend is Thursday, June 16th.

NYSEAMERICAN UTG traded up $0.29 on Wednesday, reaching $34.66. 141,055 shares of the company were exchanged, compared to its average volume of 242,432. Reaves Utility Income Fund has a fifty-two week low of $30.76 and a fifty-two week high of $36.50.

Several institutional investors have recently made changes to their positions in the company. Zullo Investment Group Inc. acquired a new position in shares of Reaves Utility Income Fund in the 4th quarter valued at $43,000. Stifel Financial Corp raised its holdings in shares of Reaves Utility Income Fund by 1.8% in the 4th quarter. Stifel Financial Corp now owns 126,193 shares of the closed-end fund’s stock valued at $4,432,000 after buying an additional 2,263 shares during the period. Cetera Investment Advisers raised its holdings in shares of Reaves Utility Income Fund by 29.7% in the 4th quarter. Cetera Investment Advisers now owns 14,122 shares of the closed-end fund’s stock valued at $496,000 after buying an additional 3,231 shares during the period. HB Wealth Management LLC purchased a new stake in shares of Reaves Utility Income Fund in the 4th quarter valued at $206,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Reaves Utility Income Fund in the 4th quarter valued at $216,000.

Reaves Utility Income Fund Company Profile (Get Rating)

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.

See Also

Dividend History for Reaves Utility Income Fund (NYSEAMERICAN:UTG)

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