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Joseph Burns Rhame III, Officer of Investment Advisor at Reaves Utility Income Fund (EXCHANGE:UTG), a $3.41 billion utility-focused fund with a notable 5.98% dividend yield, reported purchasing shares of the company worth $102,059.
According to a Form 4/A filing with the Securities and Exchange Commission, Rhame acquired 2,700 shares at a price of $37.8 on October 23, 2025. The filing also indicates several acquisitions of shares through cash reinvestments from December 2, 2024, to September 30, 2025. These acquisitions, marked with transaction code "J", involved a total value of $22,532, with prices ranging from $31.81 to $39.62 per share. The fund has demonstrated strong performance with a 28.57% price return over the past six months.
Following these transactions, Rhame directly owns 13,627.18 shares of Reaves Utility Income Fund. The fund has maintained dividend payments for 22 consecutive years, making it an attractive income investment. For more detailed insider trading analysis and additional financial metrics, check out InvestingPro.
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