Form 4: Reaves Utility Income Fund Director, JoEllen Legg, Acquires Shares
SEC Form 4 Filing
Director JoEllen Legg purchased 1,890 shares of Reaves Utility Income Fund (UTG) at $26.46 per share on March 25, 2024.
Summary
- On March 25, 2024, JoEllen Legg, a director of Reaves Utility Income Fund (UTG), acquired 1,890 shares of the company's stock.
- The purchase price was $26.46 per share.
- Following the transaction, Ms. Legg directly owns 1,890 shares of Reaves Utility Income Fund.
Sentiment
Score: 7
Explanation: The sentiment is moderately positive due to the director's purchase of shares, indicating confidence in the company. However, it's a single transaction and doesn't provide a comprehensive view.
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
Insider transactions are closely watched by investors as they can provide insights into a company's prospects. Purchases by directors are often seen as a positive sign.
Stakeholder Impact
- The purchase could positively influence shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| 03/25/2024 | Date of transaction: JoEllen Legg purchased 1,890 shares of Reaves Utility Income Fund. |
| 03/27/2024 | Date of signature on the Form 4 filing. |
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