Rhame Joseph Burns III Buys Shares of Reaves Utility Income Fund

Rhame Joseph Burns III has recently acquired 73 shares of the Reaves Utility Income Fund (NYSE American: UTG). This insider transaction was executed at an average price of $38.53 per share, amounting to a total value of $2,812.69. The purchase was not part of a pre-planned trading program and was disclosed on November 30, 2025.

Insider Buying and Selling at Reaves Utility Income Fund

Rhame Joseph Burns III has been actively buying shares of Reaves Utility Income Fund over the past months. On June 26, 2026, he bought 500 shares at $41.20. Earlier purchases include 66 shares at $42.45 on May 31, 2026, and 67 shares at $42.94 on April 30, 2026. These transactions indicate a consistent pattern of confidence in the fund's prospects.

Other Institutional Activity in Reaves Utility Income Fund

Several institutional investors have also been adjusting their positions in Reaves Utility Income Fund. Bank of America Corp increased its holdings by 290,771 shares, bringing its total to 1,361,230 shares valued at approximately $53.47 million. Morgan Stanley added 68,963 shares, reaching a total of 1,138,657 shares worth about $44.73 million. LPL Financial LLC grew its stake by 39,970 shares, ending with 819,415 shares valued at $32.19 million. Meanwhile, Wells Fargo & Company increased its position by 28,289 shares to 707,581 shares, valued at $27.79 million. Royal Bank of Canada also added 41,008 shares, bringing its total to 576,373 shares worth $22.64 million.

Reaves Utility Income Fund Stock Up 8.2%

Shares of Reaves Utility Income Fund traded near $41.34 on Friday. The fund boasts a market capitalization of approximately $3.78 billion and a P/E ratio of 4.82, indicating relatively low valuation compared to earnings. The stock's beta of 0.856 suggests lower volatility compared to the broader market. Over the past year, the stock has reached a high of $43.90 and a low of $35.61. Its 50-day moving average stands at $42.01, while the 200-day moving average is $39.50.

Dividend

Reaves Utility Income Fund offers a dividend rate of $2.52 per share, yielding around 6.1%. The dividend payout ratio is 24.85%, reflecting a sustainable distribution policy. Investors interested in dividends may find this yield attractive given the fund's focus on income generation.

About Reaves Utility Income Fund

Reaves Utility Income Fund is a closed-end mutual fund managed by W. H. Reaves & Company, Inc., based in Jersey City, NJ. The fund invests in the U.S. equity and fixed income markets, focusing primarily on the utilities sector. It targets dividend-paying stocks and debt instruments across various market capitalizations, employing a mix of quantitative and fundamental analysis to build its portfolio. Established on September 15, 2003, the fund aims to provide investors with income and capital appreciation.

Bottom Line

Rhame Joseph Burns III's recent insider purchase of Reaves Utility Income Fund shares highlights continued confidence in the fund's performance. Investors often track insider activity as it can provide insights into the management's outlook. However, it's crucial to remember that insider transactions are just one piece of the investment puzzle. Institutional activity and market conditions also play significant roles in shaping a fund's trajectory.