Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
On Thursday, CFO Brian H. Oswald purchased $307,500 worth of Prospect Capital Corporation (NASDAQ:PSEC), purchasing 30,000 shares at a cost of $10.25 a piece. Before this latest buy, Oswald made one other buy in the past twelve months, purchasing $226,765 shares at a cost of $10.45 each. Prospect Capital Corporation is trading up about 1.1% on the day Tuesday. So far Oswald is in the green, up about 1.3% on their buy based on today's trading high of $10.38.
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