Reaves Utility Income Fund (NYSEAMERICAN:UTG) Short Interest Down 13.5% in February

Reaves Utility Income Fund (NYSEAMERICAN:UTG) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 51,800 shares, a decline of 13.5% from the February 13th total of 59,900 shares. Based on an average daily trading volume, of 310,500 shares, the days-to-cover ratio is presently 0.2 days.

Reaves Utility Income Fund Stock Performance

Reaves Utility Income Fund stock opened at $32.71 on Thursday. Reaves Utility Income Fund has a 1 year low of $25.26 and a 1 year high of $35.29. The business has a 50-day moving average of $32.92 and a 200-day moving average of $31.65.

Hedge Funds Weigh In On Reaves Utility Income Fund

Institutional investors have recently modified their holdings of the stock. Prospera Financial Services Inc grew its position in shares of Reaves Utility Income Fund by 8.7% in the 3rd quarter. Prospera Financial Services Inc now owns 10,903 shares of the closed-end fund’s stock valued at $358,000 after purchasing an additional 870 shares during the period. Landscape Capital Management L.L.C. acquired a new position in shares of Reaves Utility Income Fund in the 3rd quarter valued at approximately $519,000. Nwam LLC acquired a new position in shares of Reaves Utility Income Fund in the 3rd quarter valued at approximately $223,000. Captrust Financial Advisors grew its position in shares of Reaves Utility Income Fund by 852.4% in the 3rd quarter. Captrust Financial Advisors now owns 176,864 shares of the closed-end fund’s stock valued at $5,803,000 after purchasing an additional 158,293 shares during the period. Finally, Tradition Wealth Management LLC grew its position in shares of Reaves Utility Income Fund by 3.1% in the 3rd quarter. Tradition Wealth Management LLC now owns 93,988 shares of the closed-end fund’s stock valued at $3,084,000 after purchasing an additional 2,784 shares during the period.

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.