Graybill Bartz Assoc Ltd buys $2.9 Million stake in Reaves Utility Income Fund (UTG)

Reaves Utility Income Fund (UTG) : Graybill Bartz Assoc Ltd scooped up 135 additional shares in Reaves Utility Income Fund during the most recent quarter end , according to a recent disclosure to the SEC on Apr 5, 2016. The investment management firm now holds a total of 98,485 shares of Reaves Utility Income Fund which is valued at $2.9 Million.Reaves Utility Income Fund makes up approximately 2.68% of Graybill Bartz Assoc Ltd’s portfolio.

Reaves Utility Income Fund opened for trading at $29.8 and hit $29.82 on the upside on Monday, eventually ending the session at $29.75, with a gain of 1.33% or 0.39 points. The heightened volatility saw the trading volume jump to 1,17,063 shares. Company has a market cap of $937 M.

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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