TSX runs higher on rate cut expectations
Reaves Utility Income Fund stock reached a 52-week high, climbing to 35.33 USD. The $3.11 billion fund offers investors a substantial 6.56% dividend yield, according to InvestingPro data. This milestone reflects a significant upward trend over the past year, with the stock delivering a remarkable 35.7% total return. The fund, known for its focus on utility and energy sectors, has benefited from strong market conditions and investor confidence, maintaining dividend payments for 22 consecutive years. InvestingPro analysis reveals several more key insights about the fund’s performance and outlook. This 52-week high underscores the fund’s resilience and growth potential in a fluctuating market environment, with a beta of 0.79 indicating lower volatility compared to the broader market.
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