Reeves Utility Income Fund said on April 6, 2023 that its board of directors declared a regular monthly dividend of $0.19 per share ($2.28 annualized). Previously, the company paid $0.19 per share.
Shares must be purchased before the ex-div date of April 18, 2023 to qualify for the dividend. Shareholders of record as of April 19, 2023 will receive the payment on April 28, 2023.
At the current share price of $29.08 / share, the stock's dividend yield is 7.84%. Looking back five years and taking a sample every week, the average dividend yield has been 6.73%, the lowest has been 5.45%, and the highest has been 10.46%. The standard deviation of yields is 0.76 (n=195).
The current dividend yield is 1.47 standard deviations above the historical average.
The company's 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.
Learn to Harvest Dividends
Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.
What is the Fund Sentiment?
There are 163 funds or institutions reporting positions in Reeves Utility Income Fund. This is an increase of 11 owner(s) or 7.24% in the last quarter. Average portfolio weight of all funds dedicated to UTG is 0.06%, a decrease of 21.37%. Total shares owned by institutions increased in the last three months by 1.91% to 7,397K shares.
What are Other Shareholders Doing?
Semus Wealth Partners holds 34K shares.
CoreCap Advisors holds 5K shares. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Laurel Wealth Advisors holds 2K shares. No change in the last quarter.
Oliver Lagore Vanvalin Investment Group holds 3K shares. In it's prior filing, the firm reported owning 2K shares, representing an increase of 36.42%. The firm increased its portfolio allocation in UTG by 43.11% over the last quarter.
Macroview Investment Management holds 0K shares.
Reaves Utility Income Fund Background Information
(This description is provided by the company.)
The Reaves Utility Income Fund is a publicly listed closed-end fund with an emphasis on paying a high distribution to shareholders though dividends and capital gains generated by the Fund’s investments. The Fund invests in infrastructure stocks, predominantly utilities. Reaves Asset Management is the Investment Advisor to the Fund.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
