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.
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.