Reaves Utility Income Fund (UTG) to Issue Monthly Dividend of $0.19 on February 29th

Reaves Utility Income Fund (NYSEAMERICAN:UTGGet Free Report) announced a monthly dividend on Friday, December 15th, Wall Street Journal reports. Investors of record on Friday, February 16th will be paid a dividend of 0.19 per share by the closed-end fund on Thursday, February 29th. This represents a $2.28 annualized dividend and a dividend yield of 8.82%. The ex-dividend date of this dividend is Thursday, February 15th.

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

Reaves Utility Income Fund Trading Up 0.8 %

UTG stock opened at $25.84 on Tuesday. Reaves Utility Income Fund has a 1 year low of $23.24 and a 1 year high of $29.69. The company has a fifty day moving average of $26.67.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. FMR LLC raised its holdings in Reaves Utility Income Fund by 131,200.0% during the first quarter. FMR LLC now owns 1,313 shares of the closed-end fund’s stock worth $37,000 after purchasing an additional 1,312 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Reaves Utility Income Fund by 264.5% in the first quarter. JPMorgan Chase & Co. now owns 1,509 shares of the closed-end fund’s stock valued at $43,000 after buying an additional 1,095 shares during the period. Harbour Investments Inc. boosted its stake in Reaves Utility Income Fund by 76.8% during the first quarter. Harbour Investments Inc. now owns 2,302 shares of the closed-end fund’s stock valued at $65,000 after buying an additional 1,000 shares in the last quarter. IFP Advisors Inc boosted its stake 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 valued at $115,000 after buying an additional 1,012 shares in the last quarter. Finally, First Republic Investment Management Inc. acquired a new position in Reaves Utility Income Fund during the first quarter worth about $201,000.

Reaves Utility Income Fund Company Profile

(Get Free Report)

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.

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Dividend History for Reaves Utility Income Fund (NYSEAMERICAN:UTG)

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