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.
At Guggenheim Strategic Opportunities Fund (NYSE:GOF), a filing with the SEC revealed that on Wednesday, Director Randall C. Barnes bought 3,600 shares of GOF, at a cost of $21.43 each, for a total investment of $77,140. Investors have the opportunity to grab GOF even cheaper than Barnes did, with the stock trading as low as $20.89 in trading on Friday which is 2.5% below Barnes's purchase price. Guggenheim Strategic Opportunities Fund is trading up about 1.6% on the day Friday. Before this latest buy, Barnes purchased GOF on 6 other occasions during the past year, for a total investment of $244,654 at an average of $21.01 per share.
And also on Wednesday, Director Jonathan R. Phillips purchased $76,950 worth of Streamline Health Solutions Inc (NASDAQ:STRM), purchasing 15,000 shares at a cost of $5.13 a piece. Before this latest buy, Phillips purchased STRM at 2 other times during the past year, for a total investment of $44,672 at an average of $4.41 per share. Streamline Health Solutions Inc is trading up about 1.9% on the day Friday. So far Phillips is in the green, up about 10.1% on their purchase based on today's trading high of $5.65.
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