Reaves Utility Income Fund (UTG): Ronald James Sorenson , other of Reaves Utility Income Fund purchased 100 shares on May 25, 2016. The Insider buying transaction was reported by the company on May 26, 2016 to the Securities and Exchange Commission. The shares were purchased at $29.95 per share for a total value of $2,994.89 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on Apr 18, 2016, Louis Francisco Cimino (other) purchased 100 shares at $29.95 per share price.On Dec 29, 2015, William Avrum Ferer (other) purchased 1,168 shares at $23.99 per share price.Also, On Dec 24, 2015, Timothy Ottaviano Porter (other) purchased 400 shares at $23.99 per share price.On Dec 23, 2015, Ronald James Sorenson (other) purchased 4,300 shares at $23.99 per share price.
Shares of Reaves Utility Income Fund (UTG) ended Wednesday, May 25, 2016 session in red amid volatile trading. The shares closed down -0.05 points or -0.17% at $29.88 with 1,55,075 shares getting traded. 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 vacillated in this range throughout the day. The company has a market cap of $941 M and the number of outstanding shares has been calculated to be 3,15,02,182 shares. The 52-week high of Reaves Utility Income Fund is $30.71 and the 52-week low is $23.01.
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.