DENVER—JoEllen Legg, a director at Reaves Utility Income Fund (NYSE:UTG), recently purchased 300 shares of the company. The shares were acquired on October 15 at a price of $32.63 each, amounting to a total purchase value of $9,789. Following this transaction, Legg's total shareholding in the company stands at 2,565 shares.
InvestingPro Insights
JoEllen Legg's recent purchase of Reaves Utility Income Fund (NYSE:UTG) shares aligns with several positive indicators highlighted by InvestingPro. The fund's attractive dividend yield of 7.03% as of the latest data underscores one of its key strengths. This is further supported by an InvestingPro Tip noting that UTG "pays a significant dividend to shareholders" and has maintained dividend payments for an impressive 21 consecutive years.
The fund's recent performance has been particularly strong, with a 16.72% price total return over the past three months and a substantial 32.45% return over the last six months. These figures are consistent with another InvestingPro Tip indicating a "strong return over the last three months" and a "large price uptick over the last six months."
Despite these positive indicators, investors should be aware that UTG is not currently profitable over the last twelve months, according to InvestingPro. This information, along with 5 additional tips and a wealth of financial metrics, is available to InvestingPro subscribers, offering a more comprehensive view of UTG's financial health and market position.
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