Rhame Joseph Burns III Adds to Reaves Utility Income Fund Holdings

Rhame Joseph Burns III, an insider at Reaves Utility Income Fund, purchased 66 shares of the fund on May 31, 2026. The shares were bought at an average price of $42.45, totaling approximately $2,801.70. This transaction was not part of a pre-planned trading program.

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 acquired 500 shares at $41.20 each. Earlier, on April 30, he bought 67 shares at $42.94, and on March 31, he picked up 71 shares at $39.28.

Other Institutional Activity in Reaves Utility Income Fund

Several institutional investors have also been adjusting their holdings in Reaves Utility Income Fund. Bank of America Corp increased its stake by 290,771 shares, bringing its total to 1,361,230 shares valued at approximately $53.47 million, marking a 27.2% increase. Morgan Stanley added 68,963 shares for a total of 1,138,657 shares, valued at about $44.73 million, representing a 6.4% increase. LPL Financial LLC grew its holdings by 39,970 shares to 819,415 shares, worth around $32.19 million, a 5.1% increase. Wells Fargo & Company/MN and Royal Bank of Canada also increased their positions by 28,289 and 41,008 shares, respectively.

Reaves Utility Income Fund Stock Up 8.2%

Shares of Reaves Utility Income Fund (NYSE American:UTG) 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. 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, with a 50-day moving average of $42.01 and a 200-day moving average of $39.50.

Dividend

Reaves Utility Income Fund offers an attractive dividend, with an annual rate of $2.52 per share, yielding 6.1%. The fund's dividend payout ratio stands at 24.85%.

About Reaves Utility Income Fund

Reaves Utility Income Fund is a closed-ended mutual fund managed by W. H. Reaves & Company, Inc. The fund invests in the public equity and fixed income markets of the United States, focusing on the utilities sector. It primarily targets dividend-paying stocks and debt instruments across all market capitalizations. Founded on September 15, 2003, the fund 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 is a notable insider transaction, reflecting ongoing interest in the fund. Investors often track such insider activities for potential insights. With a strong dividend yield and recent institutional interest, Reaves Utility Income Fund remains a point of focus for market watchers.