TSX runs higher on rate cut expectations
Reaves Utility Income Fund stock reached a 52-week high, hitting $38.44, marking a significant milestone for the fund. According to InvestingPro data, the fund has delivered an impressive 43.15% total return over the past year, with a market capitalization of $3.37 billion. This achievement reflects strong momentum, as indicated by the fund’s low volatility profile with a beta of 0.8. The stock’s upward trajectory indicates strong investor confidence and favorable market conditions, contributing to its impressive growth. The Reaves Utility Income Fund, known for its focus on utility investments, has capitalized on the sector’s stability and demand, driving its stock to this new high. Notable strengths include a substantial 6.29% dividend yield and a 22-year track record of consistent dividend payments. InvestingPro subscribers can access 5 additional key insights about this fund’s performance and valuation metrics.
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