Reaves Utility Income Fund (NYSEAMERICAN:UTG) Stock Crosses Above 50 Day Moving Average of $26.97

Reaves Utility Income Fund (NYSEAMERICAN:UTGGet Free Report)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $26.97 and traded as high as $27.57. Reaves Utility Income Fund shares last traded at $27.54, with a volume of 443,718 shares trading hands.

Reaves Utility Income Fund Stock Performance

The business’s 50 day moving average is $26.97.

Hedge Funds Weigh In On Reaves Utility Income Fund

A number of hedge funds have recently modified their holdings of UTG. Cetera Investment Advisers grew its position in shares of Reaves Utility Income Fund by 216.5% during the first quarter. Cetera Investment Advisers now owns 142,410 shares of the closed-end fund’s stock worth $3,839,000 after acquiring an additional 97,420 shares during the last quarter. PFG Investments LLC purchased a new position in shares of Reaves Utility Income Fund during the first quarter worth approximately $1,976,000. Oak Family Advisors LLC purchased a new position in shares of Reaves Utility Income Fund during the first quarter worth approximately $1,230,000. Cetera Advisors LLC purchased a new position in shares of Reaves Utility Income Fund during the first quarter worth approximately $858,000. Finally, Wealth Effects LLC lifted its holdings in shares of Reaves Utility Income Fund by 67.7% during the first quarter. Wealth Effects LLC now owns 63,639 shares of the closed-end fund’s stock worth $1,716,000 after purchasing an additional 25,696 shares during the period.

Reaves Utility Income Fund Company Profile

(Get Free Report)

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.

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