Reaves Utility Income Fund (NYSEAMERICAN:UTG) Stock Passes Above 50-Day Moving Average – Should You Sell?

Shares of 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 $39.76 and traded as high as $40.27. Reaves Utility Income Fund shares last traded at $40.23, with a volume of 192,324 shares traded.

Reaves Utility Income Fund Price Performance

The company has a fifty day moving average price of $39.76 and a 200-day moving average price of $38.58.

Institutional Investors Weigh In On Reaves Utility Income Fund

Several large investors have recently made changes to their positions in UTG. Quest 10 Wealth Builders Inc. bought a new stake in shares of Reaves Utility Income Fund in the third quarter worth about $27,000. Caldwell Trust Co bought a new stake in Reaves Utility Income Fund during the second quarter worth approximately $30,000. American National Bank & Trust bought a new stake in Reaves Utility Income Fund during the third quarter worth approximately $34,000. CX Institutional bought a new stake in Reaves Utility Income Fund during the third quarter worth approximately $36,000. Finally, Rockefeller Capital Management L.P. increased its stake in Reaves Utility Income Fund by 52.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,760 shares of the closed-end fund’s stock worth $64,000 after acquiring an additional 602 shares during the last quarter.

Reaves Utility Income Fund Company Profile

Reaves Utility Income Fund (NYSE American: UTG) is a closed-end management investment company organized as a Delaware statutory trust. Since commencing operations in 1994, the fund’s primary objective has been to provide its shareholders with a high level of current income and the potential for capital appreciation. It does so by investing in a diversified portfolio of income-producing securities within the utilities sector.

The fund typically allocates its assets across common stocks, preferred stocks, corporate debt securities, convertible securities, rights, warrants and depositary receipts of regulated utility companies.