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

Reaves Utility Income Fund (NYSEAMERICAN:UTG)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.00 and traded as high as $36.48. Reaves Utility Income Fund shares last traded at $36.48, with a volume of 6,048 shares traded.

The firm also recently declared a monthly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 23rd were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.16 annualized dividend and a dividend yield of 5.95%.

A number of hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC raised its holdings in Reaves Utility Income Fund by 114.3% in the second quarter. Advisory Services Network LLC now owns 1,500 shares of the closed-end fund’s stock worth $54,000 after purchasing an additional 800 shares in the last quarter. Joseph P. Lucia & Associates LLC purchased a new position in shares of Reaves Utility Income Fund during the 2nd quarter valued at approximately $125,000. Keybank National Association OH purchased a new position in shares of Reaves Utility Income Fund during the 2nd quarter valued at approximately $211,000. Wedbush Securities Inc. lifted its position in shares of Reaves Utility Income Fund by 4.0% during the 2nd quarter. Wedbush Securities Inc. now owns 12,878 shares of the closed-end fund’s stock valued at $461,000 after buying an additional 500 shares in the last quarter. Finally, Sigma Planning Corp lifted its position in shares of Reaves Utility Income Fund by 109.1% during the 2nd quarter. Sigma Planning Corp now owns 16,162 shares of the closed-end fund’s stock valued at $579,000 after buying an additional 8,432 shares in the last quarter.

About Reaves Utility Income Fund (NYSEAMERICAN:UTG)

There is no company description available for Reaves Utility Income Trust.

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