Form 4: Director Legg Increases Stake in Reaves Utility Income Fund

Director JoEllen Legg acquired 298 common shares of Reaves Utility Income Fund at a price of $32.9296 per share on December 16, 2024.

Summary

• JoEllen Legg, a director of Reaves Utility Income Fund, purchased 298 common shares of the fund.
• The transaction occurred on December 16, 2024.
• The price per share was $32.9296.
• Following the transaction, Ms. Legg directly owns 3,197.259 common shares.

Sentiment

Score: 6

Explanation: The document reflects a routine insider transaction, which is generally neutral. The purchase by a director is a slightly positive signal, but not a major event.

Positives

• The director's purchase indicates confidence in the fund's prospects.
• Increased insider ownership can be a positive signal for investors.

Industry Context

This is a routine disclosure of insider trading activity, which is common for publicly traded companies and investment funds.

Comparison to Industry Standards

• Insider trading disclosures are a standard practice for all publicly listed companies and funds.
• The transaction is relatively small in the context of the overall market capitalization of the fund.
• Similar transactions are regularly reported by directors and officers of other investment funds and public companies.

Stakeholder Impact

• The transaction may have a slightly positive impact on shareholder sentiment due to the director's increased stake.

Key Dates

Keywords

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