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.
At Clough Global Opportunities Fund (GLO), a filing with the SEC revealed that on Wednesday, Charles Clough Jr. purchased 8,900 shares of GLO, at a cost of $11.65 each, for a total investment of $103,729. Investors can snag GLO at a price even lower than Clough Jr. did, with shares trading as low as $11.54 at last check today -- that's 1.0% under Clough Jr.'s purchase price. Clough Global Opportunities Fund is trading up about 0.3% on the day Monday. This purchase marks the first one filed by Clough Jr. in the past twelve months.
And on Thursday, Director Jeffrey E. Epstein purchased $99,960 worth of Shutterstock Incorporated (SSTK), purchasing 5,880 shares at a cost of $17.00 a piece. This purchase marks the first one filed by Epstein in the past twelve months. Shutterstock Incorporated is trading up about 3.8% on the day Monday. So far Epstein is in the green, up about 35.2% on their buy based on today's trading high of $22.99.
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