Rhame Joseph Burns III Increases Stake in Reaves Utility Income Fund

Rhame Joseph Burns III made a move to increase his investment in Reaves Utility Income Fund (NYSE American: UTG) by purchasing 73 shares at $38.2 each on January 31, 2026. This transaction was not part of a pre-planned trading scheme.

Insider Buying and Selling at Reaves Utility Income Fund

Rhame Joseph Burns III has been actively buying shares of Reaves Utility Income Fund. On January 31, 2026, he added 73 shares at an average price of $38.2. This follows other recent purchases, including 67 shares at $41.8 on February 28, 2026, and 71 shares at $39.28 on March 31, 2026.

Other Institutional Activity in Reaves Utility Income Fund

Several major institutional investors have also been adjusting their positions in Reaves Utility Income Fund. Bank of America Corp increased its holdings by 290,771 shares, ending with 1,361,230 shares valued at approximately $53.47 million. Morgan Stanley added 68,963 shares to hold a total of 1,138,657 shares worth about $44.73 million. LPL Financial LLC upped its stake by 39,970 shares, reaching a total of 819,415 shares valued at $32.19 million. Meanwhile, Commonwealth Equity Services reduced its position by 105,774 shares, holding 424,402 shares worth around $16.67 million.

Reaves Utility Income Fund Stock Up 8.2%

Shares of Reaves Utility Income Fund were trading 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 it is currently profitable. It has a 52-week low of $35.61 and a high of $43.9. The 50-day moving average is $42.01, while the 200-day moving average stands at $39.50. The company's beta is 0.856, suggesting it is less volatile than the market.

Dividend

Reaves Utility Income Fund offers a dividend rate of $2.52, yielding 6.1%. The dividend payout ratio is 24.85%, indicating a strong ability to cover its dividend payments.

About Reaves Utility Income Fund

Reaves Utility Income Fund is a closed-ended balanced mutual fund based in Jersey City, NJ. Managed by W.H. Reaves & Company, Inc., it invests in U.S. public equity and fixed income markets, focusing on the Utilities sector. The fund targets dividend-paying stocks and debt instruments across various market capitalizations, employing a blend of quantitative and fundamental analysis.

Bottom Line

The recent purchase by Rhame Joseph Burns III reflects his continued confidence in Reaves Utility Income Fund. Investors often track insider transactions for potential insights into a company's prospects. As always, remember that insider trading reports are historical and may not indicate current positions.