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Reaves Utility Income Fund
UTG

99 hedge funds and large institutions have $256M invested in Reaves Utility Income Fund in 2018 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 31 increasing their positions, 28 reducing their positions, and 19 closing their positions.

New
Increased
Maintained
Reduced
Closed

11% more repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 28

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

7% less funds holding

Funds holding: 107 → 99 (-8)

9.44% less ownership

Funds ownership: 28.05% → 18.61% (-9.4%)

13% less capital invested

Capital invested by funds: $293M → $256M (-$37.5M)

42% less first-time investments, than exits

New positions opened: 11 | Existing positions closed: 19

Holders
99
Holders Change
-8
Holders Change %
-7.48%
% of All Funds
2.27%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.05%
New
11
Increased
31
Reduced
28
Closed
19
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
PAIM
Punch & Associates Investment Management
Minnesota
+$5.1M
2
RCM
Rivernorth Capital Management
Florida
+$4.99M
3
COLIM
City of London Investment Management
United Kingdom
+$4.75M
4
TJHA
Thomas J. Herzfeld Advisors
Florida
+$3.63M
5
Morgan Stanley
Morgan Stanley
New York
+$2.72M

Top Sellers

1
SIA
Sit Investment Associates
Minnesota
-$22M
2
BCM
Bluefin Capital Management
New York
-$10.1M
3
GWM
Graybill Wealth Management
Illinois
-$2.63M
4
Walleye Trading
Walleye Trading
New York
-$2.56M
5
AGM
Alpine Global Management
New York
-$2.53M
Name Holding Trade Value Shares
Change 		Change in
Stake
SIA
1
Sit Investment Associates
Minnesota
$40.4M -$22M -757,521 -35%
YCM
2
Yakira Capital Management
Connecticut
$39.8M -$2.37M -81,519 -5%
Morgan Stanley
3
Morgan Stanley
New York
$14.9M +$2.72M +93,766 +22%
RCM
4
Rivernorth Capital Management
Florida
$14M +$4.99M +171,635 +53%
Janus Henderson Group
5
Janus Henderson Group
United Kingdom
$12.7M – – –
Bank of America
6
Bank of America
North Carolina
$12.5M -$348K -11,970 -3%
COLIM
7
City of London Investment Management
United Kingdom
$10.2M +$4.75M +163,566 +82%
Cohen & Steers
8
Cohen & Steers
New York
$10.2M +$1.48M +50,968 +16%
Wells Fargo
9
Wells Fargo
California
$7.88M -$665K -22,896 -8%
GC
10
Guggenheim Capital
Illinois
$7.87M +$789K +27,150 +11%
WAM
11
Wolverine Asset Management
Illinois
$5.09M +$1.52M +52,404 +41%
PAIM
12
Punch & Associates Investment Management
Minnesota
$4.95M +$5.1M +175,347 New
1832 Asset Management
13
1832 Asset Management
Ontario, Canada
$4.75M +$50.3K +1,731 +1%
WHRC
14
W.H. Reaves & Co
New Jersey
$4.41M +$56.5K +1,945 +1%
TJHA
15
Thomas J. Herzfeld Advisors
Florida
$4.34M +$3.63M +124,866 +432%
CL
16
CSS LLC
Illinois
$4.19M – – –
Stifel Financial
17
Stifel Financial
Missouri
$4.15M -$165K -5,672 -4%
Royal Bank of Canada
18
Royal Bank of Canada
Ontario, Canada
$3.73M +$539K +18,552 +16%
AAM
19
Advisors Asset Management
Colorado
$3.29M +$957K +32,941 +39%
Bank of Nova Scotia
20
Bank of Nova Scotia
Ontario, Canada
$3.27M +$926K +31,861 +38%
LTFS
21
Ladenburg Thalmann Financial Services
Florida
$2.89M -$1.18M -40,727 -28%
UBS Group
22
UBS Group
Switzerland
$2.77M -$681K -23,437 -19%
HBWM
23
Hollow Brook Wealth Management
New York
$2.63M -$52K -1,791 -2%
RCM
24
Robinson Capital Management
Michigan
$2.5M – – –
RJA
25
Raymond James & Associates
Florida
$2.32M -$342K -11,753 -12%
1
2 3 4 5

UTG Hedge Fund Activity: Q1 2018 in Review

99 of the 4,363 institutional investors tracked by Wall St. Rank reported a position in Reaves Utility Income Fund (UTG) for Q1 2018, worth a combined $256M — down 13% from $293M a quarter earlier.

Sellers outnumbered buyers: 19 funds closed out of UTG and 11 opened new positions — a net loss of 8 holders — while 28 trimmed existing stakes and 31 added.

The largest buyer was Punch & Associates Investment Management, opening a new position worth an estimated $5.1M. The largest seller was Sit Investment Associates, cutting an estimated $22M.

  • 99 institutional investors held Reaves Utility Income Fund (UTG) as of Q1 2018, down from 107 in Q4 2017.
  • Funds reported $256M of Reaves Utility Income Fund stock for Q1 2018, down 13% quarter-over-quarter.
  • 11 funds opened new Reaves Utility Income Fund positions in Q1 2018 and 19 closed out, a net change of -8 holders.
  • The largest Reaves Utility Income Fund buyer in Q1 2018 was Punch & Associates Investment Management, an estimated $5.1M added.
  • The largest Reaves Utility Income Fund seller in Q1 2018 was Sit Investment Associates, an estimated $22M sold.

Based on aggregated 13F filings for Q1 2018.