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 two noteworthy recent insider buys.
At Inovio Pharmaceuticals (AMEX:INO), a filing with the SEC revealed that on Tuesday, Chief Executive Officer Jong Joseph Kim purchased 250,000 shares of INO, at a cost of $9.05 each, for a total investment of $2.26M. Inovio Pharmaceuticals is trading up about 7.7% on the day Wednesday. This purchase marks the first one filed by Kim in the past twelve months.
And on Friday, William H. Gross bought $534,922 worth of PIMCO Dynamic Income Fund (NYSE:PDI), buying 16,923 shares at a cost of $31.61 each. Before this latest buy, Gross purchased PDI at 36 other times during the past year, for a total investment of $46.79M at an average of $31.97 per share. PIMCO Dynamic Income Fund is trading up about 0.6% on the day Wednesday. So far Gross is in the green, up about 2.5% on their purchase based on today's trading high of $32.40.
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