Form 4: Reaves Utility Income Fund Director, JoEllen Legg, Acquires Additional Shares
SEC Form 4
Director JoEllen Legg increased her holdings in Reaves Utility Income Fund (UTG) by purchasing 310 shares at $31.6884 per share on September 17, 2024.
Summary
- On September 17, 2024, JoEllen Legg, a director of Reaves Utility Income Fund (UTG), purchased 310 shares of the company's stock.
- The purchase price was $31.6884 per share.
- Following the transaction, Legg directly owns 2,265 shares of Reaves Utility Income Fund.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine transaction disclosure. The director's purchase is a mildly positive signal, but not significantly impactful on its own.
Positives
- A director's purchase of company stock can be seen as a positive signal, indicating confidence in the company's future prospects.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC when a company insider, such as a director, engages in a transaction involving the company's securities. It provides transparency to the market regarding the trading activities of those with privileged information.
Stakeholder Impact
- The transaction could have a minor positive impact on shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| 09/17/2024 | Date of transaction: JoEllen Legg purchased 310 shares of Reaves Utility Income Fund. |
| 09/19/2024 | Date of signature on the Form 4 filing. |
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