Historically, medium-priority insider buys have outperformed the S&P 500 by a median ~1% over the 30 days after filing — the edge is concentrated in that first month (n ≈ 7,520, 2022-2026). Past results don't predict the future. How we measure this ↗
Director Joellen Legg buys 580 UTG shares at $42.62 (+16.5% share increase); prior same-ticker buys show 3 of 5 well-timed at 90 days.
Joellen Legg, Director, purchased 580 shares of REAVES UTILITY INCOME FUND (UTG) at $42.62 on 2026-06-24, increasing her holding from 3.5K shares to 4.1K shares—a 16.5% increase in position size. At the current price of $41.34, the trade is underwater by -3.6% on a 30-day basis and -5.8% from the 52-week high of $43.90. Her same-ticker history at UTG shows a mixed but materially positive pattern: of her 5 prior purchases at this ticker, 3 of 5 achieved positive 90-day returns (with gains ranging up to +4.0% on the September 2024 purchase and +4.0% on the March 2024 purchase), suggesting a 60% success rate in capturing near-term gains after entry. This purchase represents a material commitment to a position she has been systematically adding to over the preceding nine months.
Insider buys 2,700 shares of UTG at $37.80; holdings rise 24.9% to 13,559 shares
Rhame Joseph Burns III purchased 2,700 shares of Reaves Utility Income Fund at $37.80, increasing his position by 24.9% from 10,859 to 13,559 shares. The purchase occurred near the top of the fund's 52-week range ($29.08–$41.42), with the current price at $38.91 sitting 6.1% below the 52-week high. The transaction represents a material increase in insider holdings and suggests accumulated exposure to this utility-focused closed-end fund. Without track record context or stated rationale, the near-peak timing and fund's recent modest 90-day appreciation of 2.8% provide limited additional signal about underlying conviction or forward outlook.
Director Legg JoEllen bought 298 shares of UTG at $32.93; holdings rise to 3,197 shares (+10.3%)
Legg JoEllen, a director, purchased 298 shares at $32.93 on 2024-12-16, increasing her position by 10.3% to 3,197 shares. The purchase occurred near the upper end of the 52-week range ($25.50–$34.99), with the stock currently trading 9.1% below its 52-week high. Notably, her prior two measurable trades at UTG both showed positive 90-day returns (+2.3% and +4.0%), suggesting a track record of well-timed accumulation at this ticker. However, this latest purchase at a premium valuation, combined with recent downward momentum (−4.7% over 30 days), contrasts with her historical entry points and warrants monitoring to see whether this continued accumulation reflects renewed conviction or reflects different market conditions than prior buys.
Director Legg JoEllen buys 294 shares of UTG at $33.32; third consecutive buy in 2 months
Legg JoEllen made an open-market purchase of 294 shares at $33.32 on 2024-11-15, expanding her position in Reaves Utility Income Fund by 11.3% to 2,885 shares. This marks her third consecutive buy at UTG within two months (prior buys on 2024-10-15 and 2024-09-17), establishing a clear pattern of accumulation at this single holding. Her same-ticker history shows mixed near-term outcomes: the two most recent purchases (October and September) posted 30-day gains of 2.4% and 4.0% respectively, though final 90-day returns remain unmeasurable. The March 2024 purchase at this ticker initially lagged but ultimately delivered a 90-day return of 4.0%. At the broader cross-ticker level, her track record across all holdings shows 100% success on measurable 90-day outcomes with an average 90-day return of 4.0%, though this cross-ticker win rate does not directly transfer to UTG-specific outcomes.
Director Legg JoEllen buys 300 UTG shares at $32.63; holdings rise to 2,565 shares (+13.2%)
Legg JoEllen, a director, purchased 300 shares of REAVES UTILITY INCOME FUND (UTG) at $32.63 on 2024-10-15, increasing her holdings by 13.2% to 2,565 shares. The purchase comes as UTG trades near its 52-week high of $33.03 and has appreciated 15.2% over the prior 90 days. This marks the director's second consecutive purchase at UTG within recent weeks (a prior buy on 2024-09-17), suggesting sustained engagement with the position. Across her full cross-ticker trading history, her prior buys averaged a 90-day win rate of 100.00%, though her same-ticker history at UTG shows mixed results: the March 2024 buy yielded a +4.0% 90-day return, while near-term outcomes for the September transaction remain unmeasured. The timing of this purchase near a 52-week high and during a strong uptrend warrants tracking against future performance.
Director Legg JoEllen buys 310 UTG shares at $31.69; holdings rise to 2,265 (+15.9%)
Director Legg JoEllen purchased 310 shares of Reaves Utility Income Fund at $31.69 on 2024-09-17, increasing her holdings from 1,955 to 2,265 shares—a 15.9% increase in position size via open-market purchase. Her prior transaction in UTG on 2024-03-25 (a buy of 30 shares) was followed by a 90-day return of +4.0%, indicating a pattern of purchases that preceded gains. The current price of $31.10 is 2.0% below the 52-week high of $31.72 and has posted a 90-day gain of 13.0%, within the context of a 30-day rise of 5.9%. This purchase at near-peak valuations follows a previous well-timed buy at the same security, though the timing of this transaction relative to recent momentum warrants observation of subsequent price action.
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