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, PIMCO Dynamic Credit Income Fund (NYSE:PCI)'s , Alfred T. Murata, made a $222,810 buy of PCI, purchasing 10,000 shares at a cost of $22.28 a piece. Murata was up about 0.7% on the buy at the high point of today's trading session, with PCI trading as high as $22.44 in trading on Friday. PIMCO Dynamic Credit Income Fund is trading up about 0.1% on the day Friday. Before this latest buy, Murata made one other purchase in the past twelve months, buying $364,181 shares for a cost of $22.76 a piece.
And on Friday, Director Edward M. Weil Jr. bought $138,000 worth of American Realty Capital Properties (NASDAQ:ARCP), buying 10,000 shares at a cost of $13.80 a piece. Before this latest buy, Weil Jr. purchased ARCP at 3 other times during the past year, for a total investment of $698,844 at an average of $13.98 per share. American Realty Capital Properties is trading up about 1.7% on the day Friday.
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