Rhame Joseph Burns III Buys Shares of Reaves Utility Income Fund

On December 31, 2025, Rhame Joseph Burns III bought 74 shares of Reaves Utility Income Fund (NYSE American: UTG) at an average price of $37.17 per share. The total transaction was valued at $2,750.58.

Other Institutional Activity in Reaves Utility Income Fund

In recent activity, Bank of America Corp increased its stake in Reaves Utility Income Fund by 290,771 shares, bringing its total to 1,361,230 shares valued at approximately $53.5 million. Morgan Stanley also added 68,963 shares, resulting in a total of 1,138,657 shares worth about $44.7 million. LPL Financial LLC grew its holdings by 39,970 shares, ending with 819,415 shares valued at $32.2 million. Meanwhile, Commonwealth Equity Services reduced its position by 105,774 shares, leaving it with 424,402 shares valued at around $16.7 million.

Reaves Utility Income Fund Stock Up 8.2%

Shares of UTG traded near $41.34 on Friday. The fund has a market cap of about $3.78 billion and a P/E ratio of 4.82, indicating relatively low pricing compared to earnings. The stock's beta is 0.856, suggesting it is less volatile than the broader market. Over the past 52 weeks, UTG's stock has ranged from a low of $35.61 to a high of $43.90, with a 50-day moving average of $42.01 and a 200-day moving average of $39.50.

Insider Buying and Selling at Reaves Utility Income Fund

Rhame Joseph Burns III has been actively buying shares of Reaves Utility Income Fund throughout 2026. He acquired 500 shares at $41.20 on June 26, 66 shares at $42.45 on May 31, 67 shares at $42.94 on April 30, 71 shares at $39.28 on March 31, 67 shares at $41.80 on February 28, and 73 shares at $38.20 on January 31.

About Reaves Utility Income Fund

Reaves Utility Income Fund is a closed-end mutual fund managed by W. H. Reaves & Company, Inc. It invests in public equity and fixed income markets in the United States, primarily focusing on the utilities sector. The fund invests in dividend-paying stocks and debt instruments across all market capitalizations. Founded on September 15, 2003, it is headquartered in Jersey City, NJ, and is led by CEO Jeremy Oppegard May.

Bottom Line

Rhame Joseph Burns III's recent purchase of Reaves Utility Income Fund shares adds to his ongoing acquisitions throughout the year. The fund's stock remains relatively stable, with institutional investors like Bank of America Corp increasing their positions. As always, it's important to remember that insider transactions and institutional filings are backward-looking and may not reflect current positions.