Reaves Utility Income Fund (NYSEAMERICAN:UTG) Short Interest Up 113.7% in January

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 20,300 shares, an increase of 113.7% from the January 15th total of 9,500 shares. Based on an average daily trading volume, of 281,600 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of UTG. Raymond James Financial Inc. purchased a new stake in shares of Reaves Utility Income Fund in the 4th quarter valued at $8,703,000. Captrust Financial Advisors increased its stake in Reaves Utility Income Fund by 852.4% during the third quarter. Captrust Financial Advisors now owns 176,864 shares of the closed-end fund’s stock worth $5,803,000 after purchasing an additional 158,293 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Reaves Utility Income Fund by 38.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 446,194 shares of the closed-end fund’s stock worth $14,140,000 after purchasing an additional 125,072 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Reaves Utility Income Fund in the fourth quarter valued at approximately $3,213,000. Finally, Oak Family Advisors LLC grew its holdings in shares of Reaves Utility Income Fund by 46.6% in the fourth quarter. Oak Family Advisors LLC now owns 251,772 shares of the closed-end fund’s stock valued at $7,979,000 after purchasing an additional 80,004 shares in the last quarter.

Reaves Utility Income Fund Price Performance

Shares of NYSEAMERICAN:UTG traded up $0.08 during midday trading on Thursday, reaching $34.17. 179,952 shares of the company’s stock traded hands, compared to its average volume of 300,144. Reaves Utility Income Fund has a 1 year low of $25.26 and a 1 year high of $35.29. The company has a fifty day simple moving average of $31.30.

Reaves Utility Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 6.67%. The ex-dividend date is Tuesday, March 18th.

About Reaves Utility Income Fund

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.