Reaves Utility Income Fund (UTG) Insider III Buys $2.8K of Stock

Rhame Joseph Burns III, an insider at Reaves Utility Income Fund, purchased 71 shares of the fund on March 31, 2026. The shares were bought at an average price of $39.28 each, amounting to a total transaction value of $2,788.88. This transaction was not part of a pre-planned trading program.

What Changed in Rhame Joseph Burns III's Reaves Utility Income Fund Position

Rhame Joseph Burns III increased his holdings by 71 shares with this recent purchase. This addition reflects a continued interest in the Reaves Utility Income Fund, though the overall impact on his total holdings was not specified.

Other Institutional Activity in Reaves Utility Income Fund

In recent institutional activity, Bank of America Corp increased its stake in the Reaves Utility Income Fund by 290,771 shares, bringing its total to 1,361,230 shares valued at about $53.47 million. Morgan Stanley also added 68,963 shares, now holding 1,138,657 shares worth approximately $44.73 million. On the other hand, Commonwealth Equity Services reduced its position by 105,774 shares, leaving it with 424,402 shares valued at $16.67 million.

Reaves Utility Income Fund Stock Up 13.5%

Shares of NYSE American:UTG traded near $41.34 on Friday. The Reaves Utility Income Fund has a market capitalization of approximately $3.78 billion and a P/E ratio of 4.82. The fund's stock has a 52-week low of $35.61 and a high of $43.90, with a 50-day moving average of $42.01 and a 200-day moving average of $39.50. The fund shows a beta of 0.856, indicating relatively lower volatility compared to the market.

Insider Buying and Selling at Reaves Utility Income Fund

Rhame Joseph Burns III has been active in purchasing shares of Reaves Utility Income Fund over several months. On March 31, 2026, he bought 71 shares at $39.28 each. Previous purchases include 67 shares at $42.94 on April 30, 2026, and 66 shares at $42.45 on May 31, 2026. These transactions were not conducted under any pre-arranged trading plans.

About Reaves Utility Income Fund

Reaves Utility Income Fund is a closed-end balanced mutual fund managed by W. H. Reaves & Company, Inc. Based in Jersey City, NJ, the fund invests in both public equity and fixed income markets within the United States, focusing on the utilities sector. It primarily targets dividend-paying stocks and debt instruments across all market sizes. Founded on September 15, 2003, the fund employs a mix of quantitative and fundamental analysis to shape its investment portfolio.

Bottom Line

Rhame Joseph Burns III's recent purchase of Reaves Utility Income Fund shares underscores his ongoing commitment to the fund. Investors often monitor insider transactions for potential insights into a company's prospects. While these filings provide a snapshot of past activity, they may not reflect the insider's current position or future intentions.