Form 4: Harrison Street Fund Boosts NFRX ETF Stake

Harrison Street Real Assets Fund LLC, a 10% owner, reported a significant purchase of 399,520 shares of Harrison Street Infrastructure Active ETF.

Summary

• Harrison Street Real Assets Fund LLC, identified as a 10% owner of 2023 ETF Series Trust [NFRX], reported a direct acquisition of securities.
• The transaction involved the purchase of 399,520 shares of Harrison Street Infrastructure Active ETF.
• The shares were acquired at a price of $25.03 per share.
• Following this transaction, Harrison Street Real Assets Fund LLC beneficially owns a total of 796,713 shares.
• The transaction occurred on February 2, 2026, and was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, as a significant insider purchase by a 10% owner indicates confidence in the ETF's future performance.

Positives

• A significant insider purchase by a 10% owner suggests confidence in the Harrison Street Infrastructure Active ETF.
• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-planned investment strategy.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider purchases, especially by significant shareholders like a 10% owner, can signal strong conviction in an ETF's underlying strategy and asset class, particularly in the infrastructure sector which often attracts long-term institutional capital.

Stakeholder Impact

• Shareholders: May view the insider purchase as a positive indicator of future performance and management confidence.
• Investors in the ETF: The increased stake by a major institutional investor could enhance the ETF's credibility and attract further investment.

Key Dates

Recommendation

The significant insider purchase by Harrison Street Real Assets Fund LLC, a 10% owner, signals strong confidence in the Harrison Street Infrastructure Active ETF. This action, particularly under a 10b5-1 plan, suggests a strategic long-term view. While positive, a 'hold' recommendation is prudent as this single transaction, without broader financial performance data or market analysis, does not immediately warrant a 'buy' or 'strong buy' for all investors. It does, however, reinforce a positive outlook for existing holders and warrants further due diligence for potential investors.

Keywords

Harrison Street Real Assets Fund, 2023 ETF Series Trust, NFRX, Harrison Street Infrastructure Active ETF, Form 4, insider trading, beneficial ownership, ETF, purchase, 10% owner