Reaves Utility Income Fund (UTG) Short Interest Down 74.9% in November

Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 13,015 shares, a drop of 74.9% from the November 15th total of 51,843 shares. Based on an average daily volume of 158,678 shares, the short-interest ratio is presently 0.1 days.

In other Reaves Utility Income Fund news, insider Ronald James Sorenson bought 6,102 shares of Reaves Utility Income Fund stock in a transaction on Wednesday, October 11th. The stock was acquired at an average price of $29.93 per share, with a total value of $182,632.86. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Several hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in Reaves Utility Income Fund by 11.0% during the second quarter. IFP Advisors Inc now owns 6,578 shares of the closed-end fund’s stock valued at $226,000 after purchasing an additional 652 shares in the last quarter. Sei Investments Co. lifted its position in Reaves Utility Income Fund by 167.4% during the third quarter. Sei Investments Co. now owns 3,209 shares of the closed-end fund’s stock valued at $102,000 after purchasing an additional 2,009 shares in the last quarter. Reaves W H & Co. Inc. lifted its position in Reaves Utility Income Fund by 2.3% during the third quarter. Reaves W H & Co. Inc. now owns 96,407 shares of the closed-end fund’s stock valued at $3,056,000 after purchasing an additional 2,147 shares in the last quarter. Stifel Financial Corp lifted its position in Reaves Utility Income Fund by 11.6% during the second quarter. Stifel Financial Corp now owns 31,161 shares of the closed-end fund’s stock valued at $1,070,000 after purchasing an additional 3,238 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. lifted its position in Reaves Utility Income Fund by 48.0% during the third quarter. Neville Rodie & Shaw Inc. now owns 10,950 shares of the closed-end fund’s stock valued at $347,000 after purchasing an additional 3,550 shares in the last quarter.

Reaves Utility Income Fund (NYSEAMERICAN UTG) opened at $31.30 on Friday. Reaves Utility Income Fund has a 52 week low of $29.48 and a 52 week high of $36.73.

The company also recently declared a monthly dividend, which was paid on Thursday, November 30th. Stockholders of record on Friday, November 17th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.13%.

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Reaves Utility Income Fund Company Profile

Reaves Utility Income Fund (the Fund) is closed-end management investment company. The Fund’s investment objective is to provide a high level of after-tax income and total return consisting primarily of tax-advantaged dividend income and capital appreciation. The Fund intends to invest approximately 80% of its total assets in dividend-paying common and preferred stocks and debt instruments of companies within the utility industry.

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