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.
On Wednesday, AllianceBernstein National Municipal Income Fund (NYSE:AFB)'s Senior Vice President, Douglas J. Peebles, made a $727,812 purchase of AFB, buying 58,600 shares at a cost of $12.42 each. AllianceBernstein National Municipal Income Fund is trading up about 0.2% on the day Monday. Before this latest buy, Peebles made one other buy in the past year, purchasing $516,602 shares for a cost of $12.48 a piece.
And at EOG Resources (NYSE:EOG), there was insider buying on Wednesday, by Director Donald F. Textor who bought 3,000 shares for a cost of $167.77 each, for a trade totaling $503,309. This buy marks the first one filed by Textor in the past twelve months. EOG Resources is trading off about 1.9% on the day Monday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.