Form 4: Insider Boosts REAVES UTILITY INCOME FUND Stake
Insider Transaction Report
Joseph Burns Rhame III, an officer of the investment advisor, significantly increased his beneficial ownership in Reaves Utility Income Fund through a series of reinvestments and a direct purchase.
Summary
- Joseph Burns Rhame III, an officer of the investment advisor for Reaves Utility Income Fund (UTG), reported the acquisition of a total of 3,347.052 shares.
- These acquisitions occurred through a series of cash reinvestments and a significant direct purchase between December 2, 2024, and October 23, 2025.
- The cash reinvestments involved fractional shares, while a direct purchase on October 23, 2025, added 2,700 shares at $37.80 per share.
- Following these transactions, Rhame's total beneficial ownership in Reaves Utility Income Fund increased to 13,559.264 shares.
Sentiment
Score: 8
Explanation: The consistent accumulation of shares through reinvestment, coupled with a significant direct purchase, indicates strong confidence from an officer of the investment advisor in the fund's prospects and value.
Positives
- Increased insider ownership signals confidence in the fund's future performance and strategy.
- Consistent reinvestment of cash distributions indicates a long-term commitment from management.
- A substantial direct purchase of 2,700 shares further reinforces management's belief in the fund's value.
Future Outlook
This Form 4 filing does not contain explicit forward-looking statements or guidance regarding the fund's future performance or strategy.
Industry Context
Reaves Utility Income Fund is a closed-end fund focused on utility income. Insider buying in such a fund can indicate management's belief in the stability and income-generating potential of the underlying utility sector, especially in varying market conditions, and confidence in the fund's ability to deliver consistent returns.
Related Party Transactions
- The cash reinvestment transactions could be considered routine related-party dealings as they involve an officer of the investment advisor participating in the fund's distribution reinvestment plan.
Stakeholder Impact
- Shareholders: May view the increased insider ownership as a positive sign of management alignment and confidence, potentially boosting investor sentiment.
Key Dates
| Date | Description |
|---|---|
| 12/02/2024 | Acquisition of 34.133 shares at $34.60 and 21.726 shares at $34.60. |
| 12/30/2024 | Acquisition of 37.821 shares at $31.81 and 24.074 shares at $31.81. |
| 01/21/2025 | Acquisition of 36.333 shares at $34.02 and 23.126 shares at $34.02. |
| 02/27/2025 | Acquisition of 36.991 shares at $32.86 and 23.546 shares at $32.86. |
| 03/31/2025 | Acquisition of 37.655 shares at $32.54 and 23.968 shares at $32.54. |
| 04/30/2025 | Acquisition of 37.601 shares at $32.78 and 23.933 shares at $32.78. |
| 05/30/2025 | Acquisition of 35.983 shares at $34.60 and 22.904 shares at $34.60. |
| 06/28/2025 | Acquisition of 34.654 shares at $36.18 and 22.058 shares at $36.18. |
| 07/31/2025 | Acquisition of 34.445 shares at $38.28 and 21.925 shares at $38.28. |
| 08/29/2025 | Acquisition of 34.581 shares at $37.94. |
| 09/30/2025 | Acquisition of 33.985 shares at $39.62 and 21.615 shares at $39.62. |
| 10/23/2025 | Acquisition of 2,700 shares at $37.80. |
| 10/27/2025 | Date of filing signature. |
Recommendation
buyThe consistent and increasing insider ownership, culminating in a substantial direct purchase, suggests strong conviction from an officer of the investment advisor regarding the fund's intrinsic value and future performance. This insider confidence, especially in a utility income fund, can be a compelling signal for investors looking for stable income and potential capital appreciation.
Keywords
REAVES UTILITY INCOME FUND, UTG, Joseph Burns Rhame III, insider trading, Form 4, beneficial ownership, share acquisition, investment advisor, utility income, closed-end fund
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.