Short Interest Change: Could Reaves Utility Income Fund Sbi (NYSEMKT:UTG) Go Up After Its Newest Short Interest Report?

November 18, 2016 - By kentuckypostne   ·   0 Comments

Short Interest Change: Could Reaves Utility Income Fund Sbi (NYSEMKT:UTG) Go Up After Its Newest Short Interest Report?

The stock of Reaves Utility Income Fund Sbi (NYSEMKT:UTG) registered an increase of 37.5% in short interest. UTG’s total short interest was 3,300 shares in November as published by FINRA. Its up 37.5% from 2,400 shares, reported previously. About 38,746 shares traded hands. Reaves Utility Income Fund (NYSEMKT:UTG) has declined 2.30% since April 18, 2016 and is downtrending. It has underperformed by 6.73% the S&P500.

Reaves Utility Income Fund is a diversified closed-end management investment company. The company has a market cap of $1.04 billion. The Fund’s investment objective is to provide an after-tax income and total return consisting primarily of tax-advantaged dividend income and capital appreciation. It currently has negative earnings. It invests in sectors, including electric utilities; telecommunication services; media; oil, gas and consumable fuels; real estate investment trusts; road and rail; wireless telecommunication services; food products; gas utilities, and independent power and renewable energy producers.

UTG Company Profile

Reaves Utility Income Fund (the Fund) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to provide dividend income and capital appreciation. W.H. Reaves & Co., Inc. (Reaves) serves as the Fund’s investment adviser. ALPS serves as the Fund’s administrator. The Fund intends to invest at least 80% of its total assets in dividend-paying common and preferred stocks, and debt instruments of companies within the utility industry. The remaining 20% of its assets may be invested in other securities, including stocks, money market instruments and debt instruments, as well as certain derivative instruments in the utility industry or other industries.

More notable recent Reaves Utility Income Fund (NYSEMKT:UTG) news were published by: Businesswire.com which released: “Reaves Utility Income Fund Announces Rights Offering” on October 15, 2015, also Businesswire.com with their article: “Reaves Utility Income Fund Announces Filing for a Rights Offering” published on October 06, 2015, Businesswire.com published: “Reaves Utility Income Fund Announces Result of the Rights Offering” on December 17, 2015. More interesting news about Reaves Utility Income Fund (NYSEMKT:UTG) were released by: Seekingalpha.com and their article: “Reaves Utility Income Fund: What To Make Of The Rights Offering” published on October 09, 2015 as well as Businesswire.com‘s news article titled: “The Reaves Utility Income Fund Increases Its Monthly Distribution 5.8% to $0 …” with publication date: October 05, 2016.

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