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 Gastar Exploration (AMEX:GST), a filing with the SEC revealed that on Friday, Director John Michael Selser Sr. purchased 10,000 shares of GST, at a cost of $2.90 each, for a total investment of $29,000. Selser was up about 11.4% on the purchase at the high point of today's trading session, with GST trading as high as $3.23 in trading on Tuesday.
And at The Zweig Fund (NYSE:ZF), there was insider buying on Friday, by Director Wendy W. Luscombe who purchased 2,200 shares at a cost of $12.90 each, for a trade totaling $28,380. The Zweig Fund is trading up about 1.1% on the day Tuesday.
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