Reaves Utility Income Fund (NYSEAMERICAN:UTG) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 124,150 shares, an increase of 123.4% from the October 15th total of 55,580 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 170,908 shares, the short-interest ratio is presently 0.7 days.

A number of hedge funds have recently added to or reduced their stakes in UTG. Centaurus Financial Inc. purchased a new stake in shares of Reaves Utility Income Fund in the 2nd quarter valued at $135,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Reaves Utility Income Fund in the 3rd quarter valued at $205,000. Cypress Wealth Services LLC purchased a new stake in shares of Reaves Utility Income Fund in the 3rd quarter valued at $211,000. Wedbush Securities Inc. purchased a new stake in shares of Reaves Utility Income Fund in the 2nd quarter valued at $202,000. Finally, Hodges Capital Management Inc. purchased a new stake in shares of Reaves Utility Income Fund in the 2nd quarter valued at $225,000.

UTG stock opened at $31.20 on Friday. Reaves Utility Income Fund has a one year low of $27.13 and a one year high of $31.77.

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Reaves Utility Income Fund Company Profile

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.

Further Reading: Earnings Per Share

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