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 TCW Strategic Income Fund (NYSE:TSI), a filing with the SEC revealed that on Wednesday, Director Andrew Tarica purchased 20,000 shares of TSI, at a cost of $5.54 each, for a total investment of $110,800. TCW Strategic Income Fund is trading up about 0.4% on the day Friday. This purchase marks the first one filed by Tarica in the past year.
And also on Wednesday, Director Raymond R. Mattie bought $8,467 worth of Citizens & Northern Corp (NASDAQ:CZNC), buying 437 shares at a cost of $19.38 each. Before this latest buy, Mattie bought CZNC at 10 other times during the past year, for a total investment of $30,609 at an average of $19.63 per share. Citizens & Northern Corp is trading down about 0.4% on the day Friday.
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