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 PIMCO Municipal Income Fund II (NYSE:PML), a filing with the SEC revealed that on Wednesday, William H. Gross bought 19,044 shares of PML, for a cost of $11.99 each, for a total investment of $228,376. PIMCO Municipal Income Fund II is trading up about 0.1% on the day Friday. Before this latest buy, Gross purchased PML at 2 other times during the past year, for a total investment of $835,124 at an average of $11.95 per share.
And at Tilly's (NYSE:TLYS), there was insider buying on Thursday, by CEO Daniel Griesemer who purchased 25,000 shares for a cost of $7.79 each, for a total investment of $194,835. Tilly's is trading up about 2.4% on the day Friday. Griesemer was up about 5.9% on the buy at the high point of today's trading session, with TLYS trading as high as $8.25 at last check today.
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