Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Friday, Northern Technologies International Corp. (NASDAQ:NTIC)'s Director, Richard Nigon, made a $38,999 purchase of NTIC, buying 3,000 shares at a cost of $13.00 a piece. Nigon was up about 1.3% on the purchase at the high point of today's trading session, with NTIC trading as high as $13.17 in trading on Tuesday. Northern Technologies International Corp. is trading down about 1% on the day Tuesday. This purchase marks the first one filed by Nigon in the past year.
And at BlackRock MuniVest Fund, Inc. (AMEX:MVF), there was insider buying on Thursday, by Theodore R. Jaeckel Jr. who purchased 2,800 shares for a cost of $10.52 each, for a total investment of $29,456. Before this latest buy, Jaeckel Jr. made one other purchase in the past year, buying $2,098 shares for a cost of $10.49 each. BlackRock MuniVest Fund, Inc. is trading up about 0.3% on the day Tuesday. Jaeckel Jr. was up about 0.6% on the buy at the high point of today's trading session, with MVF trading as high as $10.58 at last check today.
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