# EDGAR Filing Document

**Accession Number:** 0001263994
**File Stem:** 0001717520-25-000002
**Filing Date:** 2025-10
**Character Count:** 7983
**Document Hash:** 203c0fd856ac1405815eef806b92a25a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001717520-25-000002.hdr.sgml**: 20251027

**ACCESSION NUMBER**: 0001717520-25-000002

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20241202

**FILED AS OF DATE**: 20251027

**DATE AS OF CHANGE**: 20251027

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Rhame Joseph Burns III
- **CENTRAL INDEX KEY:** 0001717520

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-21432
- **FILM NUMBER:** 251418136

**MAIL ADDRESS:**
- **STREET 1:** C/O W.H. REAVES & CO., INC.
- **STREET 2:** 10 EXCHANGE PLACE, 18TH FLOOR
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** REAVES UTILITY INCOME FUND
- **CENTRAL INDEX KEY:** 0001263994

**ORGANIZATION NAME:**
- **EIN:** 200223928
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**BUSINESS ADDRESS:**
- **STREET 1:** 1700 BROADWAY
- **STREET 2:** SUITE 1850
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80290
- **BUSINESS PHONE:** 3036232577

**MAIL ADDRESS:**
- **STREET 1:** 1700 BROADWAY
- **STREET 2:** SUITE 1850
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80290

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UTILITY INCOME TRUST
- **DATE OF NAME CHANGE:** 20030917

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Rhame Joseph Burns III<br><sub>(Last) (First) (Middle)</sub><br>C/O W.H. REAVES & CO., INC.<br>10 EXCHANGE PLACE, 18TH FLOOR<br><sub>(Street)</sub><br>JERSEY CITY, NJ 07302<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2024-12-02 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[ ] Officer (give title below) [X] Other (specify below)<br>_Officer of Investment Advisor_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>REAVES UTILITY INCOME FUND [ UTG ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Reaves Utility Income Fund | 2024-12-02 |  | J<sup>(1)</sup> |  | 34.133 | A | $34.6 | 10316.272 | D |  |
| Reaves Utility Income Fund | 2024-12-02 |  | J<sup>(1)</sup> |  | 21.726 | A | $34.6 | 10377.998 | D |  |
| Reaves Utility Income Fund | 2024-12-30 |  | J<sup>(1)</sup> |  | 37.821 | A | $31.81 | 10375.819 | D |  |
| Reaves Utility Income Fund | 2024-12-30 |  | J<sup>(1)</sup> |  | 24.074 | A | $31.81 | 10399.893 | D |  |
| Reaves Utility Income Fund | 2025-01-21 |  | J<sup>(1)</sup> |  | 36.333 | A | $34.02 | 10436.226 | D |  |
| Reaves Utility Income Fund | 2025-01-21 |  | J<sup>(1)</sup> |  | 23.126 | A | $34.02 | 10459.352 | D |  |
| Reaves Utility Income Fund | 2025-02-27 |  | J<sup>(1)</sup> |  | 36.991 | A | $32.86 | 10496.343 | D |  |
| Reaves Utility Income Fund | 2025-02-27 |  | J<sup>(1)</sup> |  | 23.546 | A | $32.86 | 10519.889 | D |  |
| Reaves Utility Income Fund | 2025-03-31 |  | J<sup>(1)</sup> |  | 37.655 | A | $32.54 | 10557.544 | D |  |
| Reaves Utility Income Fund | 2025-03-31 |  | J<sup>(1)</sup> |  | 23.968 | A | $32.54 | 10581.512 | D |  |
| Reaves Utility Income Fund | 2025-04-30 |  | J<sup>(1)</sup> |  | 37.601 | A | $32.78 | 10619.113 | D |  |
| Reaves Utility Income Fund | 2025-04-30 |  | J<sup>(1)</sup> |  | 23.933 | A | $32.78 | 10643.046 | D |  |
| Reaves Utility Income Fund | 2025-05-30 |  | J<sup>(1)</sup> |  | 35.983 | A | $34.6 | 10679.029 | D |  |
| Reaves Utility Income Fund | 2025-05-30 |  | J<sup>(1)</sup> |  | 22.904 | A | $34.6 | 10701.933 | D |  |
| Reaves Utility Income Fund | 2025-06-28 |  | J<sup>(1)</sup> |  | 34.654 | A | $36.18 | 10736.587 | D |  |
| Reaves Utility Income Fund | 2025-06-28 |  | J<sup>(1)</sup> |  | 22.058 | A | $36.18 | 10758.645 | D |  |
| Reaves Utility Income Fund | 2025-07-31 |  | J<sup>(1)</sup> |  | 34.445 | A | $38.28 | 10793.09 | D |  |
| Reaves Utility Income Fund | 2025-07-31 |  | J<sup>(1)</sup> |  | 21.925 | A | $38.28 | 10815.015 | D |  |
| Reaves Utility Income Fund | 2025-08-29 |  | J<sup>(1)</sup> |  | 34.581 | A | $37.94 | 10849.596 | D |  |
| Reaves Utility Income Fund | 2025-09-30 |  | J<sup>(1)</sup> |  | 33.985 | A | $39.62 | 10837.649 | D |  |
| Reaves Utility Income Fund | 2025-09-30 |  | J<sup>(1)</sup> |  | 21.615 | A | $39.62 | 10859.264 | D |  |
| Reaves Utility Income Fund | 2025-10-23 |  | P |  | 2700 | A | $37.8 | 13559.264 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) Reaves Utility Income Fund cash reinvestment.

**Signature:** Joseph Burns Rhame III  
**Date:** 2025-10-27

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**