Rhame Joseph Burns III Adds to Reaves Utility Income Fund Holdings

Rhame Joseph Burns III recently increased his holdings in Reaves Utility Income Fund (NYSE American: UTG) by purchasing 67 shares on February 28, 2026. The shares were bought at an average price of $41.80 each, amounting to a total transaction value of about $2,800.60. This move is part of a series of regular purchases by Burns, reflecting ongoing confidence in the fund.

Other Institutional Activity in Reaves Utility Income Fund

Several institutional investors have also adjusted their positions in Reaves Utility Income Fund. Bank of America Corp added 290,771 shares, raising its total to 1,361,230 shares worth approximately $53.47 million, marking a 27.2% increase. Morgan Stanley expanded its stake by 68,963 shares, resulting in a total of 1,138,657 shares valued at $44.73 million, up 6.4%. Meanwhile, LPL Financial LLC grew its holdings by 39,970 shares to 819,415 shares, valued at about $32.19 million, representing a 5.1% increase. In contrast, Commonwealth Equity Services, LLC reduced its stake by 105,774 shares, leaving it with 424,402 shares valued at $16.67 million, which is a 20% decrease.

Reaves Utility Income Fund Stock Up 8.2%

Shares of Reaves Utility Income Fund traded near $41.34 on Friday. The fund has a market capitalization of approximately $3.78 billion and a P/E ratio of 4.82, indicating a relatively low price compared to its earnings. It has a beta of 0.856, suggesting lower volatility compared to the broader market. The stock's 52-week range is between $35.61 and $43.90. Its 50-day moving average is $42.01, while the 200-day moving average stands at $39.50. The fund's financial health is underscored by a current ratio of 0.012 and a quick ratio of 0.007, alongside a debt-to-equity ratio of 24.835.

Insider Buying and Selling at Reaves Utility Income Fund

Rhame Joseph Burns III has been actively increasing his stake in Reaves Utility Income Fund over the past few months. On June 26, 2026, he bought 500 shares at $41.20 each. Earlier, on May 31, 2026, he acquired 66 shares at $42.45, and on April 30, 2026, he purchased 67 shares at $42.94. His buying pattern continued with 71 shares at $39.28 on March 31, 2026, and 67 shares at $41.80 on February 28, 2026. In January, he bought 73 shares at $38.20, all without any pre-planned trading.

About Reaves Utility Income Fund

Reaves Utility Income Fund is a closed-ended balanced mutual fund managed by W. H. Reaves & Company, Inc. Based in Jersey City, NJ, the fund invests in U.S. public equity and fixed income markets, focusing on the utilities sector. It targets dividend-paying stocks and debt instruments across all market capitalizations, using a mix of quantitative and fundamental analysis for stock selection. Founded on September 15, 2003, the fund aims to provide steady income to its investors.

Bottom Line

Rhame Joseph Burns III's recent purchase adds to his growing investment in Reaves Utility Income Fund, demonstrating continued interest in the fund's potential. While the stock's P/E ratio suggests it is priced attractively relative to its earnings, investors should remember that insider transactions like these are part of regular reporting and do not necessarily predict future performance. As always, these insights are backward-looking and reflect past actions rather than current or future positions.