Rhame Joseph Burns III Increases Stake in Reaves Utility Income Fund
Rhame Joseph Burns III purchased 67 shares of Reaves Utility Income Fund on April 30, 2026.
Key Points
- Rhame Joseph Burns III bought 67 shares of Reaves Utility Income Fund (NYSE American:UTG) at $42.94 each, totaling $2,876.98, on April 30, 2026.
- Shares of UTG traded near $41.34 on Friday, with a market cap of about $3.78 billion and a P/E ratio of 4.82.
- Bank of America Corp increased its UTG holdings by 290,771 shares, bringing its total to 1,361,230 shares valued at $53.47 million.
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On April 30, 2026, Rhame Joseph Burns III purchased 67 shares of Reaves Utility Income Fund (NYSE American:UTG) at an average price of $42.94 per share. This transaction was valued at $2,876.98 and was not part of a pre-planned trading program.
Other Institutional Activity in Reaves Utility Income Fund
Several institutional investors have adjusted their positions in Reaves Utility Income Fund. Bank of America Corp increased its holdings by 290,771 shares, reaching a total of 1,361,230 shares valued at approximately $53.47 million, reflecting a 27.2% increase. Morgan Stanley added 68,963 shares, ending with 1,138,657 shares worth about $44.73 million, marking a 6.4% increase. LPL Financial LLC grew its stake by 39,970 shares, totaling 819,415 shares valued at $32.19 million, a 5.1% increase. Wells Fargo & Company/MN added 28,289 shares, bringing its total to 707,581 shares, valued at $27.79 million, a 4.2% increase. In contrast, Commonwealth Equity Services, LLC reduced its position by 105,774 shares, leaving it with 424,402 shares valued at $16.67 million, a 20.0% 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 price-to-earnings (P/E) ratio of 4.82. Its beta is 0.856, indicating lower volatility compared to the broader market. The stock's 52-week range is between $35.61 and $43.90. It has a 50-day moving average of $42.01 and a 200-day moving average of $39.50. The fund maintains a current ratio of 0.012 and a quick ratio of 0.007, with a debt-to-equity ratio of 24.835.
$UTG stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Reaves Utility Income Fund reported revenue of $93.29 million, although it experienced a revenue decline of 5.6%. The fund's net margin stands at 8.24%, and it has a return on equity (ROE) of 24.1%.
Dividend
The Reaves Utility Income Fund pays an annual dividend rate of $2.52, yielding 6.1%. Its dividend payout ratio is 24.85%.
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 purchased 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. None of these transactions were part of a pre-planned trading program.
About Reaves Utility Income Fund
Reaves Utility Income Fund is a closed-ended balanced mutual fund managed by W. H. Reaves & Company, Inc. It invests in both public equity and fixed income markets within the United States, focusing on the utilities sector. The fund primarily targets dividend-paying stocks and debt instruments from companies of all sizes. Established on September 15, 2003, the fund is headquartered in Jersey City, NJ, and led by CEO Mr. Jeremy Oppegard May.
Bottom Line
Rhame Joseph Burns III's recent purchase of Reaves Utility Income Fund shares reflects ongoing interest in this asset management fund. The fund's activity in the utilities sector, combined with its substantial dividend yield, makes it a point of interest for investors. Keep in mind that insider transactions are disclosed after the fact and may not indicate future performance.
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This instant news alert was generated by automated narrative technology and financial data from Podchat and public regulatory filings. It is for informational purposes only and is not financial advice.