Form 4: Harrison Street Fund Boosts NFRX ETF Stake

Harrison Street Real Assets Fund LLC, a 10% owner and director, increased its beneficial ownership in 2023 ETF Series Trust's Harrison Street Infrastructure Active ETF through a pre-arranged purchase.

Summary

• Harrison Street Real Assets Fund LLC, identified as both a Director and a 10% Owner of 2023 ETF Series Trust, acquired additional shares.
• The fund purchased 383,729 shares of the Harrison Street Infrastructure Active ETF.
• The transaction occurred on February 9, 2026, at a price of $26.06 per share.
• Following this acquisition, Harrison Street Real Assets Fund LLC beneficially owns a total of 1,957,758 shares.
• The transaction was executed under a Rule 10b5-1 pre-arranged trading plan, as indicated by the filing.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this as a strong positive signal, as a significant insider purchase by a major shareholder and director typically reflects high confidence in the fund's valuation and future outlook.

Positives

• A significant insider purchase of 383,729 shares indicates strong confidence from a 10% owner and director in the fund's prospects.
• The acquisition at $26.06 per share suggests the reporting person believes the current valuation is attractive.
• The transaction was made under a Rule 10b5-1 plan, indicating a pre-planned, systematic investment strategy rather than a reactive market timing move.

Negatives

• No direct negatives are apparent from this Form 4 filing, which reports an acquisition.

Risks

• The value of the acquired shares is subject to market fluctuations inherent in equity investments.
• Future performance of the Harrison Street Infrastructure Active ETF may not meet expectations, potentially impacting the investment's value.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider purchases, especially by significant shareholders and directors, often signal strong internal conviction regarding a company's or fund's future prospects. This move by Harrison Street Real Assets Fund LLC could be interpreted as a positive indicator for the infrastructure ETF sector, aligning with broader trends of increased investment in real assets.

Related Party Transactions

• The acquisition of shares by Harrison Street Real Assets Fund LLC, a 10% owner and director, constitutes a related party transaction.

Stakeholder Impact

• Shareholders: May view the insider purchase as a positive sign of confidence, potentially leading to increased investor interest and share price appreciation.
• Management: The increased stake by a director reinforces alignment of interests with the fund's performance.

Key Dates

Recommendation

The significant insider purchase by a 10% owner and director, Harrison Street Real Assets Fund LLC, signals strong conviction in the Harrison Street Infrastructure Active ETF's value and future prospects. Such a substantial investment by a well-informed party suggests the stock may be undervalued or poised for growth, making it an attractive 'buy' for seasoned investors.

Keywords

Harrison Street Real Assets Fund, 2023 ETF Series Trust, NFRX, Harrison Street Infrastructure Active ETF, insider purchase, Form 4, beneficial ownership, Rule 10b5-1, ETF, infrastructure