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The Reaves Utility Income Fund (UTG) offers a big, steadily-growing, monthly-paid, tax-advantaged distribution with a current yield of 8.2%. It has ties to the growing energy demand from data centers and artificial intelligence, as cloud AI requires a significant amount of energy from utility companies. The article reviews the fund's advantages such as tax favorability, monetary policy impacts, and data center AI tailwinds, as well as risks like expenses, leverage, and price premium.
The fund's investment objective is to provide a high level of after-tax income and total returns by investing primarily in dividend-paying common and preferred stocks and debt instruments of companies within the utility industry. UTG's investment philosophy focuses on companies with high barriers to entry, limited competition, consistent cash flow generation, and dividends as a key component of capital allocation. The fund's performance, leveraging borrowed money, and unique nuances of closed-end funds are also discussed in the article.
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