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 Wednesday, Wells Fargo (NYSE:WFC)'s Director, Stephen W. Sanger, made a $339,600 buy of WFC, purchasing 10,000 shares at a cost of $33.96 a piece. Sanger was up about 1.9% on the purchase at the high point of today's trading session, with WFC trading as high as $34.61 in trading on Friday. Wells Fargo & Co. is trading down about 0.2% on the day Friday.
And on Tuesday, Douglas J. Hepworth purchased $43,300 worth of Nuveen Diversified Commodity Fund (AMEX:CFD), purchasing 2,000 shares at a cost of $21.65 each. Nuveen Diversified Commodity Fund is trading off about 0.8% on the day Friday.
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