Form 4: Reaves Utility Income Fund Director, JoEllen Legg, Increases Stake with Recent Stock Purchase

Director JoEllen Legg reports purchasing 300 shares of Reaves Utility Income Fund at $32.63 per share, increasing her total holdings to 2,565 shares.

Summary

• On October 15, 2024, JoEllen Legg, a director of Reaves Utility Income Fund, purchased 300 shares of the company's stock.
• The purchase price was $32.63 per share.
• Following the transaction, Ms. Legg directly owns 2,565 shares of Reaves Utility Income Fund.

Sentiment

Score: 6

Explanation: A director purchasing shares is generally a mildly positive signal, suggesting confidence in the company's prospects. However, the purchase is relatively small.

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 monitored as they can provide insights into a company's performance and future prospects. Purchases by directors are often viewed more favorably than sales.

Stakeholder Impact

• The purchase could have a slightly positive impact on shareholder sentiment.

Key Dates