As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Monday, Guggenheim Strategic Opportunities (NYSE:GOF)'s Director, Randall C. Barnes, made a $58,941 buy of GOF, purchasing 2,950 shares at a cost of $19.98 each. So far Barnes is in the green, up about 1.0% on their purchase based on today's trading high of $20.18. Guggenheim Strategic Opportuniti is trading up about 0.3% on the day Wednesday.
And at Avery Dennison Corp. (NYSE:AVY), there was insider buying on Tuesday, by Charles H. Noski who purchased 2,000 shares for a cost of $28.78 each, for a total investment of $57,558. This buy marks the first one filed by Noski in the past twelve months. Avery Dennison Corp. is trading up about 0.6% on the day Wednesday. Noski was up about 4.1% on the buy at the high point of today's trading session, with AVY trading as high as $29.95 at last check today.
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