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 The Cushing Renaissance Fund (NYSE:SZC), a filing with the SEC revealed that on Monday, Edward N. McMillan purchased 4,000 shares of SZC, at a cost of $24.46 each, for a total investment of $97,853. McMillan was up about 0.9% on the buy at the high point of today's trading session, with SZC trading as high as $24.68 at last check today. The Cushing Renaissance Fund is trading down about 0.5% on the day Wednesday.
And on Tuesday, Director John F. Bergstrom purchased $90,935 worth of Associated Banc-Corp. (NASDAQ:ASBC), purchasing 6,500 shares at a cost of $13.99 each. Associated Banc-Corp. is trading up about 1.1% on the day Wednesday.
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