Form 4: Reaves Utility Income Fund: Insider Buys Shares

Joseph Burns Rhame III, an officer of the Investment Advisor for Reaves Utility Income Fund (UTG), reported the acquisition of shares through a dividend reinvestment plan.

Summary

• Joseph Burns Rhame III, an officer of the Investment Advisor for Reaves Utility Income Fund (UTG), has reported transactions related to the acquisition of fund shares.
• These acquisitions occurred through a dividend reinvestment plan, indicated by transaction code 'J' and the reinvestment of cash.
• The transactions took place over several months, from November 30, 2025, to June 26, 2026.
• During this period, Rhame III acquired a total of approximately 14,673.768 shares.
• The acquisition prices varied, ranging from $37.17 to $42.94 per share.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily details routine dividend reinvestments by an insider, which are common and do not necessarily indicate a significant change in the fund's outlook.

Positives

• Insider acquisition of shares through dividend reinvestment indicates confidence in the fund's performance and value.
• Consistent reinvestment over several months suggests a sustained belief in the fund's strategy.
• The acquisition of 500 shares on June 26, 2026, at $41.20 per share, represents a direct purchase, potentially signaling a more active investment decision.

Negatives

• The filing primarily details routine dividend reinvestments, offering limited insight into significant strategic shifts or performance changes.
• The reported transactions are from a past period (ending June 26, 2026), and do not reflect current holdings or recent market activity.

Risks

• The fund's performance is subject to the volatility of the utility sector, which can be influenced by regulatory changes, interest rate fluctuations, and economic conditions.
• As an investment advisor, potential conflicts of interest could arise, although the dividend reinvestment plan is a common and generally accepted practice.

Future Outlook

The filing does not contain forward-looking statements or guidance. It solely reports past transactions.

Management Comments

• The filing includes a reminder that intentional misstatements or omissions of facts constitute Federal Criminal Violations.
• It also notes that if the form is filed by more than one reporting person, specific instructions apply.

Industry Context

StockSavvy.ai notes that insider transactions, particularly dividend reinvestments by officers of investment advisors, are common in the closed-end fund industry. These actions often reflect a belief in the fund's income-generating capabilities and long-term value, especially within the stable, yet regulated, utility sector.

Related Party Transactions

• The transactions reported by Joseph Burns Rhame III, an officer of the Investment Advisor, represent a form of related party transaction, specifically through dividend reinvestment.

Stakeholder Impact

• Shareholders may view insider reinvestment positively, as it suggests confidence in the fund's management and future prospects.
• The transactions do not appear to have an immediate or direct negative impact on other stakeholders.

Next Steps

• Continued monitoring of insider transactions for any significant changes in beneficial ownership.
• Analysis of the Reaves Utility Income Fund's ongoing performance and dividend distributions.

Key Dates

Keywords

Reaves Utility Income Fund, UTG, Form 4, Insider Trading, Dividend Reinvestment, Joseph Burns Rhame III, Securities Exchange Act, Investment Advisor