Rhame Joseph Burns III Buys More Shares of Reaves Utility Income Fund

Insider Rhame Joseph Burns III recently bought 500 shares of Reaves Utility Income Fund (NYSE American: UTG) at an average price of $41.2 per share. The transaction, which took place on June 26, 2026, was valued at $20,600 and was not part of a pre-arranged trading plan.

Insider Buying and Selling at Reaves Utility Income Fund

Rhame Joseph Burns III has been actively purchasing shares of Reaves Utility Income Fund throughout the year. His latest acquisition on June 26 follows several smaller purchases, including 66 shares at $42.45 on May 31 and 67 shares at $42.94 on April 30. Burns has consistently added to his holdings, demonstrating confidence in the fund's prospects.

Other Institutional Activity in Reaves Utility Income Fund

Institutional investors have also been adjusting their positions 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, a 27.2% increase. Morgan Stanley added 68,963 shares, ending with 1,138,657 shares valued at $44.73 million, reflecting a 6.4% increase. LPL Financial LLC and Wells Fargo & Company/MN also increased their holdings, while Commonwealth Equity Services reduced its position by 105,774 shares, a 20% decrease.

Reaves Utility Income Fund Stock Up 8.2%

Shares of Reaves Utility Income Fund traded around $41.34 on Friday. The fund has a market capitalization of $3.78 billion and trades with 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 $43.9, with a 50-day moving average of $42.01 and a 200-day moving average of $39.50. The fund's current ratio is 0.012, and its debt-to-equity ratio stands at 24.835.

Recent Earnings

In its latest earnings report, Reaves Utility Income Fund posted revenue of $93.29 million, although it experienced a revenue decline of 5.6%. The fund's net margin was 8.24%, and it achieved a return on equity of 24.1%. The next earnings report is anticipated soon, although the exact date was not specified.

Dividend

Reaves Utility Income Fund pays an annual dividend rate of $2.52, yielding 6.1%. The dividend payout ratio is 24.85%, reflecting a conservative approach to earnings distribution.

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 public equity and fixed income markets, focusing on the utilities sector. It primarily targets dividend-paying stocks and debt instruments across various market capitalizations. The fund employs a combination of quantitative and fundamental analysis with a bottom-up stock-picking strategy.

Bottom Line

Rhame Joseph Burns III's continued purchases of Reaves Utility Income Fund shares suggest a positive outlook for the fund. Institutional investors have also shown interest, with several increasing their stakes. This insider activity, combined with the fund's dividend yield and market performance, makes it a stock worth watching. However, it's important to remember that insider transactions are reported after the fact and may not reflect current holdings.