Hollow Brook Wealth Management buys $8.5 Million stake in Reaves Utility Income Fund (UTG)

Reaves Utility Income Fund (UTG) : Hollow Brook Wealth Management scooped up 14,920 additional shares in Reaves Utility Income Fund during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 278,721 shares of Reaves Utility Income Fund which is valued at $8.5 Million.Reaves Utility Income Fund makes up approximately 5.20% of Hollow Brook Wealth Management’s portfolio.

Other Hedge Funds, Including , Private Advisor Group boosted its stake in UTG in the latest quarter, The investment management firm added 538 additional shares and now holds a total of 8,938 shares of Reaves Utility Income Fund which is valued at $273,235. Reaves Utility Income Fund makes up approx 0.01% of Private Advisor Group’s portfolio.Reaves W H Co Inc reduced its stake in UTG by selling 11,125 shares or 10.29% in the most recent quarter. The Hedge Fund company now holds 97,037 shares of UTG which is valued at $3 Million. Reaves Utility Income Fund makes up approx 0.11% of Reaves W H Co Inc’s portfolio. Cornerstone Advisors Inc sold out all of its stake in UTG during the most recent quarter. The investment firm sold 52,400 shares of UTG which is valued $1.6 Million. Doliver Capital Advisors added UTG to its portfolio by purchasing 27,017 company shares during the most recent quarter which is valued at $808,349. Reaves Utility Income Fund makes up approx 0.69% of Doliver Capital Advisors’s portfolio.

Reaves Utility Income Fund closed down -0.05 points or -0.17% at $29.88 with 1,55,075 shares getting traded on Wednesday. Post opening the session at $29.98, the shares hit an intraday low of $29.72 and an intraday high of $30.08 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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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