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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Wednesday, PIMCO Corporate Income Fund (NYSE:PCN)'s , William H. Gross, made a $4.38M purchase of PCN, buying 250,000 shares at a cost of $17.53 a piece. So far Gross is in the green, up about 5.5% on their purchase based on today's trading high of $18.49. PIMCO Corporate Income Fund is trading up about 3.2% on the day Friday. Before this latest buy, Gross made one other purchase in the past twelve months, buying $278,216 shares for a cost of $13.91 each.
And also on Wednesday, Director C. Michael Armstrong bought $499,264 worth of IHS Inc (NYSE:IHS), buying 5,550 shares at a cost of $89.96 a piece. This buy marks the first one filed by Armstrong in the past twelve months. IHS Inc is trading up about 3.2% on the day Friday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
VF is an awesome community of bright, serious, passionate
Launch related slideshow:
Wednesday 6/19 Insider Buying Report: BXP, SRPT
Wednesday 6/19 Insider Buying Report: MVC
Tuesday 6/18 Insider Buying Report: CTSH
Daily Wrap: June 19, 2013
Subscription Revenue Climbs at Adobe
Earnings Slump at FedEx in Fiscal Q4
New Analyst Coverage: ING, KO, SPN
Analyst Moves: AIG, ADBE, BLL
Analyst Moves: BBRY, CLF, AEO
Wednesday Sector Leaders: Real Estate, Oil & Gas Refining & Marketing Stocks
Wednesday Sector Laggards: Waste Management, General Contractors & Builders
Tuesday Sector Leaders: Agriculture & Farm Products, Entertainment
Wednesday's ETF with Unusual Volume: IWC
FXI, FPA: Big ETF Outflows
XLE, IPD: Big ETF Inflows
Daily Dividend Report: LLL, MA, BXP, EPR, CWCO
Mortgage REIT Dividend Report: HTS, NYMT, AGNC, MTGE
Daily Dividend Report: FITB, IVR, AMTG, SUI, USB
Jobless Claims Fall to New Five Year Low
US Employers Add 175k in May
Jobless Claims Fall By 11,000
Weekly Market Wrap: June 14, 2013
Weekly Market Wrap: June 7, 2013
Weekly Market Wrap: May 31, 2013
Week Ahead Market Report: June 17, 2013
Week Ahead Market Report: June 10, 2013
Week Ahead Market Report: June 3, 2013