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| 1625 Broadway, Suite 2200, Denver, CO, 80202, US. TEL: 800-644-5571 http://www.utilityincomefund.com | ||||||
| Last Sale | Net Change | % Change | Volume | Last Updated | ||
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| $16.20 | 0.31 | 1.95 | 66,235 | 11/20/09 3:59 PM ET | ||
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| Security Type | Closed End Fund | Specialist | 074 | |
| Industry | Closed End Funds | Trading Post | 1 | |
| Primary Exchange | NYSE Amex | SEC Filings | ||
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| Description |
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Reaves Utility Income Fund is a closed-end, non-diversified management investment company registered under the Investment Company Act of 1940. 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 pursue this objective by investing at least 80% of its total assets in the securities of domestic and foreign companies involved, to a significant extent, in providing products, services or equipment for the generation or distribution of electricity, gas or water; telecommunications activities; or infrastructure operations, such as airports, toll roads and municipal services. A company will be deemed as involved in the Utility Industry to the extent that at least 50% of its assets, gross income or profits are committed to or derived from activities in the above-mentioned operations. The remaining 20% of the Fund's total assets may be invested in other securities including stocks, debt obligations, money market securities and money market mutual funds, as well as certain derivative instruments in the Utility Industry or other industries. Moreover, if warranted by extraordinary conditions affecting the Utility Industry or securities markets as a whole, the Fund may temporarily be primarily invested in money market securities or money market mutual funds. Initially, the Fund expects to invest 90% of its total assets in common stocks and the remaining 10% in preferred stocks. While the Fund has no current plans to invest in debt securities, it reserves the right to do so if deemed advisable to increase income or total return or reduce risk. Under normal market conditions, at least 80% of the Fund's total assets will be invested in the Utility Industry but W.H. Reaves & Co., the Fund's investment adviser, retains broad discretion to allocate investments among common stocks, preferred stocks and debt securities in the manner it believes will best achieve the Fund's investment objective. The Fund may invest in securities of both domestic and foreign issuers. |
| Quote |
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| Last Sale | $16.20 (11/20/09) | |||
| Net Change | 0.31 | |||
| % Change | 1.95 | |||
| Previous Close | $15.89 | |||
| Today’s Open | $15.75 | |||
| Today’s High | $16.20 | |||
| Today’s Low | $15.66 | |||
| Volume | 66,235 | |||
| 52 Week High | $17.34 | |||
| 52 Week Low | $7.39 | |||
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| Chart |
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| Fundamentals |
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| P/E ratio | 15.00 | Short Interest | 26,303 | |
| Earnings Per Share | N.A. | Current yield | 8.68 | |
| Shares Outstanding | 22,677,000 | Dividend Info | ||
| Market Cap | 367,367,400 | |||
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