On December 16, JoEllen Legg, a director at Reaves Utility Income Fund (NYSE:UTG), acquired 298 common shares of beneficial interest in the company. The shares were purchased at an average price of $32.93, amounting to a total transaction value of $9,813. Following this acquisition, Legg's direct ownership in the fund stands at approximately 3,197 shares. The fund, which has maintained dividend payments for 21 consecutive years, currently offers a substantial 7.17% dividend yield and has delivered an impressive 27.86% return year-to-date. According to InvestingPro, the fund maintains a FAIR financial health rating with a beta of 0.83, indicating lower volatility compared to the broader market. Subscribers can access additional insights and 3 more exclusive ProTips for UTG.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.