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 Monday, Blackstone/GSO Strategic Credit Fund (NYSE:BGB)'s CEO, Daniel Harlan Smith Jr., made a $53,150 buy of BGB, purchasing 3,000 shares at a cost of $17.72 a piece. Smith was up about 0.8% on the buy at the high point of today's trading session, with BGB trading as high as $17.85 at last check today. Before this latest buy, Smith made one other buy in the past twelve months, purchasing $91,544 shares at a cost of $18.31 a piece.
And at Nuveen Diversified Commodity Fund (AMEX:CFD), there was insider buying on Monday, by Harry W. Short who bought 1,600 shares at a cost of $15.19 each, for a trade totaling $24,311. This purchase marks the first one filed by Short in the past twelve months. Nuveen Diversified Commodity Fund is trading down about 0.6% on the day Thursday.
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