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 Friday, Pimco Dynamic Income Fund (NYSE:PDI)'s , Daniel J. Ivascyn, made a $3.12M buy of PDI, purchasing 125,000 shares at a cost of $25.00 a piece. So far Ivascyn is in the green, up about 2.2% on their purchase based on today's trading high of $25.55. Pimco Dynamic Income Fund is trading off about 0.8% on the day Wednesday.
And at Agree Realty Corp. (NYSE:ADC), there was insider buying on Tuesday, by Chief Executive Officer Richard Agree who bought 10,000 shares at a cost of $20.78 each, for a trade totaling $207,778. Before this latest buy, Agree purchased ADC at 2 other times during the past twelve months, for a total investment of $185,499 at an average of $21.29 per share. Agree Realty Corp. is trading off about 0.3% on the day Wednesday.
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