Reaves Utility Income Fund (NYSEAMERICAN:UTG) Stock Passes Above 50 Day Moving Average of $0.00

Reaves Utility Income Fund (NYSEAMERICAN:UTG) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $0.00 and traded as high as $26.08. Reaves Utility Income Fund shares last traded at $26.00, with a volume of 294,927 shares traded.

Reaves Utility Income Fund Trading Up 0.3 %

Reaves Utility Income Fund Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, December 14th.

Insiders Place Their Bets

In other news, insider Thomas Michael Grimes sold 15,223 shares of Reaves Utility Income Fund stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $23.62, for a total transaction of $359,567.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 45,669 shares of company stock valued at $1,078,702 over the last 90 days.

Institutional Trading of Reaves Utility Income Fund

Several institutional investors and hedge funds have recently modified their holdings of UTG. BOKF NA bought a new stake in shares of Reaves Utility Income Fund during the first quarter valued at approximately $27,000. CWM LLC increased its holdings in Reaves Utility Income Fund by 138.3% during the second quarter. CWM LLC now owns 1,144 shares of the closed-end fund’s stock valued at $31,000 after buying an additional 664 shares during the period. FMR LLC increased its holdings in Reaves Utility Income Fund by 131,200.0% during the first quarter. FMR LLC now owns 1,313 shares of the closed-end fund’s stock valued at $37,000 after buying an additional 1,312 shares during the period. Creative Financial Designs Inc. ADV increased its holdings in Reaves Utility Income Fund by 34.1% during the second quarter. Creative Financial Designs Inc. ADV now owns 1,509 shares of the closed-end fund’s stock valued at $41,000 after buying an additional 384 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Reaves Utility Income Fund by 264.5% during the first quarter. JPMorgan Chase & Co. now owns 1,509 shares of the closed-end fund’s stock valued at $43,000 after buying an additional 1,095 shares during the period.

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.