Reaves Utility Income Fund (NYSEAMERICAN:UTG) Stock Passes Below 200 Day Moving Average – Should You Sell?

Reaves Utility Income Fund (NYSEAMERICAN:UTG)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $40.35 and traded as low as $39.61. Reaves Utility Income Fund shares last traded at $39.73, with a volume of 282,566 shares trading hands.

Reaves Utility Income Fund Stock Performance

The business has a 50 day moving average of $41.19 and a two-hundred day moving average of $40.35.

Reaves Utility Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 17th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, September 17th. This represents a c) annualized dividend and a yield of 6.3%.

Institutional Investors Weigh In On Reaves Utility Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PMG Family Office LLC boosted its stake in shares of Reaves Utility Income Fund by 1.0% in the 1st quarter. PMG Family Office LLC now owns 25,712 shares of the closed-end fund’s stock worth $1,010,000 after buying an additional 245 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of Reaves Utility Income Fund by 1.4% in the fourth quarter. Advisory Services Network LLC now owns 19,404 shares of the closed-end fund’s stock valued at $710,000 after acquiring an additional 269 shares in the last quarter. Assetmark Inc. increased its position in shares of Reaves Utility Income Fund by 13.1% during the first quarter. Assetmark Inc. now owns 2,449 shares of the closed-end fund’s stock valued at $96,000 after acquiring an additional 283 shares during the last quarter. Mariner LLC increased its position in shares of Reaves Utility Income Fund by 0.3% during the third quarter. Mariner LLC now owns 129,280 shares of the closed-end fund’s stock valued at $5,122,000 after acquiring an additional 328 shares during the last quarter. Finally, Brookstone Capital Management lifted its holdings in Reaves Utility Income Fund by 2.1% during the fourth quarter. Brookstone Capital Management now owns 20,258 shares of the closed-end fund’s stock worth $741,000 after acquiring an additional 415 shares during the period.

About Reaves Utility Income Fund

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.