4/A: Reaves Utility Fund Insider Amends Ownership Report
Insider Transaction Report Amendment
An officer of the investment advisor to Reaves Utility Income Fund has amended their beneficial ownership report, detailing multiple share acquisitions.
Summary
- Joseph Burns Rhame III, an Officer of the Investment Advisor to Reaves Utility Income Fund (UTG), filed an amended Form 4.
- The amendment details a series of acquisitions of Reaves Utility Income Fund shares between December 2, 2024, and October 23, 2025.
- Most acquisitions were through cash reinvestment (dividend reinvestment plans), indicated by transaction code 'J (1)'.
- A significant purchase of 2,700 shares was made on October 23, 2025, at a price of $37.8 per share, indicated by transaction code 'P'.
- Following these reported transactions, Joseph Burns Rhame III beneficially owns a total of 13,627.18 shares of Reaves Utility Income Fund.
- The total net increase in beneficial ownership reported in this amendment is approximately 3,345 shares.
Sentiment
Score: 7
Explanation: The sentiment is positive due to consistent insider buying, including a significant direct purchase, indicating strong confidence from an officer of the investment advisor in the fund's prospects.
Positives
- Increased insider ownership signals confidence in the fund's future performance and strategy.
- The consistent acquisitions, particularly through dividend reinvestment, demonstrate a long-term commitment from a key individual associated with the fund's management.
Future Outlook
This filing does not contain forward-looking statements or guidance regarding the fund's financial performance or future outlook.
Industry Context
Insider buying, especially through consistent dividend reinvestment and direct purchases, can be interpreted by the market as a positive signal of management's belief in the long-term value and stability of the fund, particularly within the utility income sector known for its stability and dividend payouts.
Related Party Transactions
- Joseph Burns Rhame III, an Officer of the Investment Advisor, acquired shares of the Reaves Utility Income Fund, which constitutes an insider transaction.
Stakeholder Impact
- Shareholders may view the increased insider ownership as a positive indicator of management's alignment with shareholder interests and confidence in the fund's future.
- The consistent reinvestment of dividends suggests a stable income stream from the fund, which is beneficial for income-focused investors.
Key Dates
| Date | Description |
|---|---|
| 2024-11-30 | Date of Earliest Transaction (as stated in filing, though first reported transaction is 12/02/2024) |
| 2024-12-02 | Acquisition of 34.133 shares at $34.6 and 21.726 shares at $34.6 via cash reinvestment |
| 2024-12-30 | Acquisition of 37.821 shares at $31.81 and 24.074 shares at $31.81 via cash reinvestment |
| 2025-01-21 | Acquisition of 36.333 shares at $34.02 and 23.126 shares at $34.02 via cash reinvestment |
| 2025-02-27 | Acquisition of 36.991 shares at $32.86 and 23.546 shares at $32.86 via cash reinvestment |
| 2025-03-31 | Acquisition of 37.655 shares at $32.54 and 23.968 shares at $32.54 via cash reinvestment |
| 2025-04-30 | Acquisition of 37.601 shares at $32.78 and 23.933 shares at $32.78 via cash reinvestment |
| 2025-05-30 | Acquisition of 35.983 shares at $34.6 and 22.904 shares at $34.6 via cash reinvestment |
| 2025-06-28 | Acquisition of 34.654 shares at $36.18 and 22.058 shares at $36.18 via cash reinvestment |
| 2025-07-31 | Acquisition of 34.445 shares at $38.28 and 21.925 shares at $38.28 via cash reinvestment |
| 2025-08-29 | Acquisition of 34.581 shares at $37.94 and 22.011 shares at $37.94 via cash reinvestment |
| 2025-09-30 | Acquisition of 33.958 shares at $39.62 and 21.615 shares at $39.62 via cash reinvestment |
| 2025-10-23 | Acquisition of 2,700 shares at $37.8 via open market or private purchase |
| 2025-10-27 | Date of Original Filed (Amendment) and Signature Date of Reporting Person |
Recommendation
buyThe consistent and increasing beneficial ownership by an officer of the investment advisor, including a notable direct purchase, suggests strong insider confidence in the Reaves Utility Income Fund. This insider buying activity often precedes positive performance and can be a strong signal for investors to consider accumulating shares, especially for a fund focused on stable utility income.
Keywords
Reaves Utility Income Fund, UTG, Insider Trading, Beneficial Ownership, Form 4, Dividend Reinvestment, Investment Advisor
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.