Form 4: Director at Reaves Utility Income Fund Acquires Shares

A director at Reaves Utility Income Fund, JoEllen Legg, purchased 294 shares of the company's stock at a price of $33.3181 per share.

Summary

• JoEllen Legg, a director at Reaves Utility Income Fund, has acquired 294 shares of the company's stock.
• The transaction occurred on November 15, 2024.
• The purchase price was $33.3181 per share.
• Following the transaction, Ms. Legg directly owns 2,885.283 shares of Reaves Utility Income Fund.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive as insider buying can indicate confidence, but it's a small transaction.

Positives

• The purchase of shares by a director can be seen as a positive sign, indicating confidence in the company's future prospects.

Industry Context

This is a routine disclosure of insider trading activity, which is common for publicly traded companies. It provides transparency into the actions of company directors.

Comparison to Industry Standards

• This type of transaction is standard for directors of publicly traded companies and is reported via SEC Form 4.
• Similar transactions are regularly seen across the industry, with directors buying or selling shares of their respective companies.

Stakeholder Impact

• The purchase may have a minor positive impact on shareholder sentiment.

Key Dates

Keywords

Reaves Utility Income Fund, UTG, insider trading, share purchase, director, JoEllen Legg, equity