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.
On Wednesday, Royce Global Value Trust (NYSE:RGT)'s President, Charles M. Royce, made a $72,547 buy of RGT, purchasing 8,324 shares at a cost of $8.72 a piece. Royce Global Value Trust is trading up about 0.3% on the day Monday. Before this latest buy, Royce bought RGT at 5 other times during the past year, for a total investment of $223,991 at an average of $8.54 per share.
And also on Wednesday, Philip G. Condon bought $70,578 worth of DWS Municipal Income Trust (NYSE:KTF), buying 6,000 shares at a cost of $11.76 each. Before this latest buy, Condon bought KTF on 23 other occasions during the past twelve months, for a total investment of $1.54M at an average of $11.89 per share. DWS Municipal Income Trust is trading trading flat on the day Monday.
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