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 Friday, PIMCO Dynamic Credit Income Fund (NYSE:PCI)'s , William H. Gross, made a $1.69M purchase of PCI, buying 71,018 shares at a cost of $23.75 each. PIMCO Dynamic Credit Income Fund is trading up about 0.3% on the day Tuesday. Before this latest buy, Gross purchased PCI on 20 other occasions during the past year, for a total investment of $46.27M at an average of $23.03 per share.
And also on Friday, Chief Investment Officer Anup Agarwal bought $158,770 worth of Western Asset Mortgage Capital (NYSE:WMC), buying 11,000 shares at a cost of $14.43 each. Western Asset Mortgage Capital is trading off about 0.3% on the day Tuesday. So far Agarwal is in the green, up about 2.5% on their purchase based on today's trading high of $14.79.
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