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 Thursday, Glu Mobile (NASDAQ:GLUU)'s Director, Hany Nada, made a $9.90M buy of GLUU, purchasing 3,243,218 shares at a cost of $3.05 a piece. Glu Mobile Inc is trading up about 12.8% on the day Friday.
And on Wednesday, William H. Gross purchased $7.57M worth of PIMCO Corporate Opportunity Fund (NYSE:PTY), purchasing 391,561 shares at a cost of $19.33 a piece. PIMCO Corporate Opportunity Fund is trading up about 2% on the day Friday. Gross was up about 5.2% on the buy at the high point of today's trading session, with PTY trading as high as $20.34 in trading on Friday.
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