Reaves Utility Income Fund (NYSEAMERICAN:UTG) Declares $0.19 Dividend

Reaves Utility Income Fund (NYSEAMERICAN:UTG) declared a dividend on Friday, April 5th, NASDAQ reports. Investors of record on Friday, April 19th will be given a dividend of 0.19 per share by the closed-end fund on Tuesday, April 30th. The ex-dividend date is Thursday, April 18th.

Reaves Utility Income Fund has raised its dividend by an average of 1.8% annually over the last three years.

Reaves Utility Income Fund Stock Down 0.3 %

Reaves Utility Income Fund stock traded down $0.09 during midday trading on Friday, reaching $26.64. The company’s stock had a trading volume of 323,557 shares, compared to its average volume of 322,695. Reaves Utility Income Fund has a 52 week low of $23.24 and a 52 week high of $29.50. The firm’s 50-day moving average is $26.43.

Insider Transactions at Reaves Utility Income Fund

In other news, Director Joellen Legg bought 1,890 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average cost of $26.46 per share, for a total transaction of $50,009.40. Following the acquisition, the director now directly owns 1,890 shares in the company, valued at $50,009.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in Reaves Utility Income Fund by 0.8% during the second quarter. Royal Bank of Canada now owns 323,333 shares of the closed-end fund’s stock worth $8,866,000 after buying an additional 2,711 shares during the last quarter. IFP Advisors Inc increased its holdings in Reaves Utility Income Fund by 31.9% during the second quarter. IFP Advisors Inc now owns 4,188 shares of the closed-end fund’s stock worth $115,000 after buying an additional 1,012 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Reaves Utility Income Fund by 294.0% during the second quarter. Envestnet Asset Management Inc. now owns 39,856 shares of the closed-end fund’s stock worth $1,093,000 after buying an additional 29,739 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Reaves Utility Income Fund by 4.5% during the first quarter. Ameriprise Financial Inc. now owns 302,543 shares of the closed-end fund’s stock worth $8,592,000 after buying an additional 12,956 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Reaves Utility Income Fund by 264.5% during the first quarter. JPMorgan Chase & Co. now owns 1,509 shares of the closed-end fund’s stock worth $43,000 after buying an additional 1,095 shares during the last quarter.

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.