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.
At Fulton Financial Corp. (FULT), a filing with the SEC revealed that on Friday, Director Albert Morrison III bought 5,000 shares of FULT, for a cost of $10.28 each, for a total investment of $51,400. Investors can grab FULT even cheaper than Morrison III did, with shares trading as low as $10.06 at last check today which is 2.1% below Morrison III's purchase price. Fulton Financial Corp. is trading down about 0.8% on the day Monday. Before this latest buy, Morrison III purchased FULT on 3 other occasions during the past year, for a total cost of $86,547 at an average of $9.51 per share.
And at BlackRock Build America Bond Trust (BBN), there was insider buying on Thursday, by Director Jerrold B. Harris who purchased 2,300 shares for a cost of $21.88 each, for a trade totaling $50,324. BlackRock Build America Bond Trust is trading up about 0.2% on the day Monday. So far Harris is in the green, up about 0.5% on their purchase based on today's trading high of $22.00.
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