The top three holders of this closed-end fund are: Bank of America Corporation, 1.12% of assets; Morgan Stanley, 0.99%; and Wells Fargo & Company, 0.68%. The shares have a current annual dividend yield of 6.18%, paid monthly.
Reaves Utility Income Fund (UTG)
From the Dividend Hunter
This week I recommend you pick up shares of Reaves Utility Income Fund (UTG) to add some stability to your portfolio.
The Reaves Utility Income Fund is a publicly listed closed-end fund with an emphasis on paying a high distribution to shareholders through dividends and capital gains generated by the Fund’s investments. The Fund invests in infrastructure stocks, predominantly utilities.
If the stock market gets ugly—and it will come at some point—UTG will be one of your most stable income investments.
This closed-end fund pays monthly dividends and just announced an unchanged $0.18 per share to be paid at the ends of April, May, and June. The next ex-dividend date for UTG is Thursday, April 22nd.
Recommendation: Buy or Accumulate Shares of UTG up to $36.00, locking in a 6% or higher yield.
Tim Plaehn, The Dividend Hunter, yn345.isrefer.com/go/cabmdpc/cab/, April 13, 2021