Yakira Capital Management Lowers stake in Reaves Utility Income Fund (UTG)

Reaves Utility Income Fund (UTG) : Yakira Capital Management reduced its stake in Reaves Utility Income Fund by 3.47% during the most recent quarter end. The investment management company now holds a total of 133,223 shares of Reaves Utility Income Fund which is valued at $4,189,863 after selling 4,796 shares in Reaves Utility Income Fund , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Reaves Utility Income Fund makes up approximately 1.60% of Yakira Capital Management’s portfolio.

Other Hedge Funds, Including , Wfg Advisors Lp boosted its stake in UTG in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 3,234 shares of Reaves Utility Income Fund which is valued at $101,709. Reaves Utility Income Fund makes up approx 0.03% of Wfg Advisors Lp’s portfolio. Westport Resources Management Inc added UTG to its portfolio by purchasing 2,176 company shares during the most recent quarter which is valued at $68,435. Reaves Utility Income Fund makes up approx 0.02% of Westport Resources Management Inc’s portfolio. Bradley Foster Sargent Incct added UTG to its portfolio by purchasing 6,320 company shares during the most recent quarter which is valued at $198,132. Reaves Utility Income Fund makes up approx 0.01% of Bradley Foster Sargent Incct’s portfolio.Janney Montgomery Scott boosted its stake in UTG in the latest quarter, The investment management firm added 21,493 additional shares and now holds a total of 44,281 shares of Reaves Utility Income Fund which is valued at $1,398,394. Reaves Utility Income Fund makes up approx 0.02% of Janney Montgomery Scott’s portfolio.

Reaves Utility Income Fund closed down -0.15 points or -0.49% at $30.76 with 1,02,748 shares getting traded on Tuesday. Post opening the session at $30.99, the shares hit an intraday low of $30.76 and an intraday high of $31.0799 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

Reaves Utility Income Fund is a diversified closed-end management investment company. The Fund’s investment objective is to provide a high level of after-tax income and total return consisting primarily of tax-advantaged dividend income and capital appreciation. 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. Reaves Asset Management (Reaves) serves as the Fund’s investment adviser. ALPS Fund Services Inc. (ALPS) serves as the Fund’s administrator.

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